Friday, January 11, 2013

FDI proposals deferred

Neelam Mathews
Jan 11, 2013

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 21, 2012, the following relating to defense were deferred.

M/s Selex Galileo Ltd., England
To set up a JV to undertake the business of marketing, development, final assembly and test, system integration, in country support and other services to those products, primarily in defense electronics sector.

M/s Mahindra and Mahindra Ltd.
To amend the para 1 and 4 of the FC approval.  The company is engaged in the business of to develop, manufacture and provide service support for radar systems and various kinds of defense electronic systems and various kinds of defense electronic systems.

M/s Amertec   Systems Pvt. Ltd, New Delhi          
Induction of foreign equity to carry out the manufacturing of advanced electronic  systems, test systems, simulators and electronic systems for military applications.  

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