The Foreign Investment Promotion Board (FIPB) has approved Rs.60.73 crore worth of foreign direct investment (FDI) proposals of Wockhardt, Aurobindo Pharma and Advanced Enzyme Technologies. Enzyme Technologies FDI proposal is worth Rs.60 crore while Wockhardt and Aurobindo Pharma proposals are worth Rs.25 lakh and Rs.48 lakh respectively approved.
The FIPB has also recommended the Axis Bank proposal worth Rs. 12,973.14 crore to increase foreign investment by FIIs / NRIs/ FPIs / ADRs / GDRs from 62 % to 74 % has been referred to the Cabinet Committee on Economic Affairs (CCEA). This is in line with the government’s decision to refer all FDI proposals above Rs. 5,000 crores to the CCEA.
So let’s do:
1. Expand the term FIPB, FPI and ADRs ?
2. Govt approves ______ pharma FDI proposals worth Rs. 60.73 crore.