The government has called a Foreign Investment Promotion Board (FIPB) meeting on April 20, the first one after it announced major changes in FDI norms, to approve proposals for foreign direct investment. While the agenda of the 165th FIPB meeting was being finalised, sources said the Board may also consider those cases on which decisions were deferred in the past.
In the last meeting the Board had approved 14 FDI proposals, including that of Mauritius based Ghir Investments, totalling Rs 1,289.85 crore. The meeting was held on March 11. Meanwhile, Japan Brake Industrial Co, Japan has sought FIPB approval to manufacture components of automobiles and other two-wheeler vehicles.
As per the FIPB in the Finance Ministry, Mumbai-based Pruksa-Luxora has also sought the government’s nod for FDI in construction of residential buildings and alterations in the existing ones.