FIPB Recommended Proposals Entailing FDI Inflow of 23700 Crore for approval by Finance Minister During 2010

Foreign Investment Promotion Board (FIPB), which is mandated to consider and recommend proposals relating to Foreign Direct Investment (FDI) under the government route in terms of extant FDI policy held 14 meetings during the calendar year, including its 162nd meeting today.

During the year, FIPB received 387 proposals for consideration, of which 212 proposals entailing FDI inflow of ` 23700 crore (approx) were recommended for approval by the Finance Minister/Cabinet Committee on Economic Affairs. While 77 proposals were rejected, others are at various stages of consideration. 

Some of the major proposals which were recommended for approval by FIPB during the year included M/s India Infrastructure Development Fund Ltd., M/s Enam India Infrastructure Fund Limited., M/s Oman Refineries Limited. and M/s AES India Holdings, indicating a healthy FDI inflow into the infrastructure sector.