India's Federal Government approved dismantling the 25-year old Foreign Investment Promotion Board, in order to streamline the flow of foreign capital into the country. By abolishing the Foreign Investment Promotion Board India's minister for finance, Arun Jaitley, removed a layer of decision-making for foreign direct investment approvals in 11 sectors...
JV between AgustaWestland and Tata Sons, India Approved by Government
India’s Foreign Investment Promotion Board cleared a proposal to set up a helicopter assembling unit by Indian Rotorcraft Limited, a joint venture between AgustaWestland and Tata Sons. Indian Rotorcraft will now undertake the final assembly of helicopter model AW 119Kx in lieu of AW 119Ke as proposed earlier, and these...
Three Companies with Foreign Ownership Can Pursue Defense Business
Three Indian companies have been given the go-ahead to expand defense industrial activities as India continues its emphasis on promoting private-sector participation in military development and production. The Foreign Investment Promotion Board (FIPB) announced on October 24, that Bharati Shipyard Ltd , Solar Industries India Ltd, and Kineco Kaman Composites...