| Date: |
17-08-2012 |
| Subject: |
Government likely to clear FDI proposals worth Rs 3000 crore by companies including Pfizer, B Braun |
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NEW DELHI: The government is likely to clear next week foreign direct investment proposals worth over Rs 3,000 crore, by companies including Pfizer, B Braun and Sutures India, which have been stuck due to lack of clarity in FDI policy for the pharma sector.
The department of industrial policy and promotion (DIPP), the nodal body for FDI policy, will soon issue clarifications, paving the way for clearance of these proposals. The foreign investment promotion board (FIPB), which clears proposals that require government permission, will take up ten such proposals, along with other proposals, on August 24.
"A lot of pharma proposals have been deferred by the FIPB due to lack of clarity in the policy and this trend needs to be reversed, as its sending out very wrong signals to global investors," said a senior official privy to the development. "A clarification is expected shortly.
Source : economictimes.indiatimes.com
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