42-FDI proposals to be reviewed on June 29

NEW DELHI: The Union FinMin has decided to review 42-foreign direct investment (FDI) requests, comprising that of Fabindia Overseas, Bajaj Finserv and Tara Aerospace Systems.

The Foreign Investment Promotion Board (FIPB), which is headed by Secretary of Economic Affairs Department, is slated to meet on June 29.
The suggestions of Zen Technologies (Defence production), Triton Hotels and Resorts (tourism), Bhilwara Energy (power) and Paragon Asset Reconstruction (financial services) will be discussed at the meeting.

According to the agenda, maximum applications are in regard to health and family welfare followed by financial services.

Reports suggest that there are three recommendations for foreign investments in the telecommunications sector.

Out of the overall, 22 applications are fresh and 14 are those on which decisions were postponed in the past FIPB meetings.
In FY12, FDI inflows into India stood at $36.50 billion.

Currently, India permits FDI in most of the sectors via automatic route, expect for few sensitive segments like telecom and defence.