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Finance Minister, Shri P. Chidambaram has approved 25 Foreign Direct Investment Proposals recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held on August 27, 2004. The approvals amount to around Rs. 201.58 crore. The major investment proposals pertain to manufacture and export carrier assemblies, sectors of textiles, tourism, development of integrated township and software & IT enabled services.
The details of the proposals cleared are as follows:
S.No.
Name & Address of the existing/proposed foreign company
Name & Address of the Indian company, if already incorporated
Activity
Location
Particulars of the proposal
Amount of FDI/NRI/OCB Investment
(Rs. In crore)
COMMERCE
1.
M/s. Flemingo International Ltd
P.O. Box 61239,
Jabel Ali Free Zone,
Dubai, UAE
M/s. Flemingo (DFS) Private Limited
T.C. 34/1433,
Opp. Thiruvananthapuram International Airport,
Airport Road
Thiruvananthapuram,
Kerala
Conducting of business of Duty Free Shops
At the airports of Jaipur, Lucknow, Amritsar and Guwahati
Amendment in the activities clause
No inflow
2.
M/s. Marconi Communications International Holdings Ltd. UK
M/s. Marconi Telecommunications India (Pvt.) Ltd.
IInd Floor, F-Block,
International Trade Tower,
Nehru Place,
New Delhi-19
Undertake importation and specialized after sales service, marketing, distribution, trading, transfer and installation of high technology telecommunication equipments and data systems
New Delhi
Amendment in the activities clause
No inflow
3.
M/s. Amada Company Ltd, Japan
M/s. Amada (India) Private Limited
C-wing-412
Floral Deck Plaza
MIDC Opp. Seepz,
Andheri(East)
Mumbia-93
Procure(import) and stock certain critical and non-critical spare parts and consumables and make them available to Indian customers
Not indicated
Amendment in the activities clause
No inflow
4.
M/s. Limje Industrial Ltd
Neville House,
5th Floor, 55, Eden Street
Kingston upon Thames,
Surrey, KT1 1BW,
United Kingdom
M/s. Pentafin Exim Company Pvt. Ltd.
42, Free Press House,
215, Nariman Point
Mumbai – 21
Sourcing & to co-ordinate the domestic sourcing of products for exports from Indian, and to undertake pre-shipment inspection and to arrange for shipments
Mumbai
Increase in non-resident equity from 51% to 100%
0.09
5.
M/s. Cheviot Holdings Ltd
P.O. Box 309,
George Town,
Grand Caymen,
British West Indies
M/s. Diatrada India Private Limited
65-C, Mittal Towers,
Nariman Point
Mumbai- 21
Wholesale trading in polished diamond both in domestic and overseas markets
Mumbai
Additional infusion of funds and undertaking trading activities
0.49
HEAVY INDUSTRY
6.
Mr. Deep Kapuria,
180, Sainik Farm,
Near Country Club,
New Delhi-62
M/s. Musashi Seimitsu Industry Co. Ltd
39-5, Daizen, Ueta-Cho
Toyohashi-shi,
Aichi-441-8560, Japan
Manufacture of auto component
New Delhi
Transfer of shares from resident to non-resident
2.10
INDUSTRIAL POLICY & PROMOTION
7.
Shri Yogesh Dixit and
Smt. Renu Dixit, NRIs
M/s. Coromandel Stampings & Stones Ltd
1009, Emerald House,
Sarojini Devi Road
Secunderabad - 3
Manufacture/ export of Granite Slabs/Tiles and Granite monuments under EOU scheme
Not indicated
Transfer of shares from resident to NRI by way of gift
No inflow
8.
M/s. Igarashi Electric Works (H.K.) Ltd
Block A, 3rd floor
Shui Ki Indl. Bldg.
Aberdeen, Hong Kong
(OCB)
M/s. Igarashi Electric Works Limited
No. 2, 1 Chome,
Tode Honcho, Saiwai-ku
Kawasaki, Japan (OCB)
M/s. Igarashi Electric India (P) Limited
A 33 & A 36, Phase I,
MEPZ – SEZ
Tambaram, Chennai
Manufacture and export carrier assemblies
Chennai
Foreign equity participation to the extent of 72% by erstwhile OCBs as foreign investor
8.64
9.
M/s. Bristol Technologies Sdn. Bdn
Lot 5178B,
Mukim off Balakong,
Daerah Hulu Langat,
43100 Balakong,
Selangor, Malaysia
M/s. Bristol Furniture (India) Pvt. Ltd.
112/113,
Marathon Max,
Georgaon Mulund
Link Road
Mulund (West)
Mumbai
Manufacture modular work stations and chairs
Thane, Maharashtra
Foreign equity participation to the extent of 80%
0.92
INFORMATION TECHNOLOGY
10.
M/s. Europrint N.V., Belgium
M/s. Europrint (India) Limited
B-9, GIDC Electronics Estate, Sector 25,
Gandhinagar – 382 044
Manufacture of printed circuit board for capital goods/ software
Gujarat
Foreign equity participation to the extent of 60%
1.68
11.
M/s. Scicom (MSC) Sdn. Bhd.
Suite F-01 & F-02, 2300
Century Square, Jalan
Usahawan,
63000 Cyberjaya
Selengor, Malaysia
M/s. Scicom Contact Centre Services Private Limited
Unit 02, Level 10,
Innovator Building
International Tech Park
Whitefield Road,
Bangalore -66
Providing end-to-end solutions for customer contact management and back office services to businesses
Bangalore
Transfer of shares from resident to non-resident
0.01
12.
M/s. Thorogood Associates Limited
Churchill House
Chalvey Road
East, Slough, Berks,
SL1 2LS, UK
M/s. Thorogood Associates India Private Limited
Unit No. 201, 2nd Floor
ACR Towers, No. 32
Residency Road
Bangalore -25
Business of computer programmes, consultants and to act as agents for the sale of, advisors, investigators and organizers in relation to systems and mechanical and other aids for all kinds of calculations and measurements
Bangalore
Transfer of shares from resident to non-resident
0.01
13.
M/s. Qualcomm Mauritius Holdings Ltd
6th floor, Cerence house,
Chaussee, Port Louis,
Mauritius
M/s. Spike Infotech Private Limited
39/2-A, Second Floor
Bannerghatta Road
Bangalore – 29
Software development and export
Bangalore
Transfer of shares from resident to non-resident
Negligible
14.
M/s. Convergys Information Management Group Inc.
600 Vine Street,
Cincinnati, Ohio, USA
M/s. Convergys Information Management (India) Private Limited
S-454,
Greater Kailash Part II
New Delhi-48
IT enabled services
New Delhi
Transfer of shares from resident to non-resident
0.01
15.
M/s. Beceem Communications Inc &
M/s. Beceem Holdings Inc.
3930, Freedom Circle
Suite 101, Santa Clara
CA 95054, USA
M/s. Beceem Communications Private Limited
Aster Vila,
The Taj West End
25, Race Course Road
Bangalore – 560 001
Design, manufacture and develop semiconductor, chips and microprocessors
Bangalore
Transfer of shares from resident to non-resident
0.01
16.
M/s. S.A. Armstrong Ltd
No. 23, Bertrand Avenue
Toronto, Ontario, Canada
M/s. Armstrong Design Private Limited
No. 102, Ist Floor
50-56, Margosa Road
Malleshwaram, Bangalore -55
Software Design & development
Bangalore
Transfer of shares from resident to non-resident
0.01
SHIPPING
17.
M/s. Itsa Investment Company Pte. Ltd.
Singapore
M/s. APL (India) Pvt. Ltd.
401/405, Keshava,
4th Floor
C-4, Bandra-Kurla Complex,
Bandra (East),
Mumbai-51
Container Freight Station, providing a whole range of services such as handle container cargo for both export and import, transit warehouse for import and export of cargo, consolidation and reworking of container load etc.
Mumbai
Downstream investment in another JV company
No inflow
18.
M/s. ESM Holdings Limited
12/F, 3, Lockhart Road
Wanchai, Hong Kong
M/s. Executive Shipping Services (India) Private Limited
507, Sai Commercial Building, 5th Floor
BKS Devshi Marg,
Govandi Station Road
Govandi (East)
Mumbia-88
Providing shipping services for ships calling on ports and providing such agency services connected with the shipping industry
Mumbai
Transfer of shares from non-resident to non-resident
No inflow
STEEL
19.
M/s. YG-I Company Limited
378, Cheongeheon-Dong
Pupyoung-gu
Inchon, Korea
M/s. YG-I Industries India Pvt. Ltd.
A-306, Road No. 32,
Wagle Industrial Estate,
Thane – 400 604
Manufacture of cutting tools made of carbide, high speed steel including end mill, TAP, drills, rotary burr, reamer, in the form of tools and blanks
Nasik, Maharashtra
Transfer of shares from resident to non-resident
Negligible
TELECOMMUNICATIONS
20.
M/s. Telstra Holding Pty. Ltd. Australia
M/s. Telstra India Pvt. Ltd.
501-507, Tolstoy House
Tolstoy Marg,
New Delhi
Internet Access Services (without internet gateway services), leased internet access services etc.
Delhi
Amendment in the activities clause
No inflow
TEXTILES
21.
M/s. Benetton Group S.p.A
Villa Minelli,
Ponzano Veneto (Treviso)
Italty
M/s. DCM Benetton India Ltd.
M/s. Sriram Global Enterprises Ltd
UGF, South Wing,
NBCC Place,
Bhishmah Pitamah Marg
Lodi Road, New Delhi
Setting up of an integrated manufacturing facility for textile sector in the knit fabric area
New Delhi
Transfer of shares from resident to non-resident
5.46
TOURISM
22.
M/s. Poly Products LLC, Oman
M/s. Raha Poly Products Ltd.
‘Mayfair complex’
1-8-303/34/1,
Sardar Patel Road,
Secunderabad -3
Mattress support, articles bedding and similar furnishing fitted with springs or stuffed or internally fitted with any material or cellular rubber plastics
Not indicated
Issue of preference shares to the foreign investors
3.00
23.
Mr. Sunil Nanda &
Mrs. Poonam Nanda
9-B, Fortuna Courts
25, Repulse Bay Road
Hongkong.
M/s. G.C. Nanda & Sons (India) Pvt. Ltd
107-110, Kanchenjunga Building
18, Barakhamba Road
New Delhi-1
Business of travel agency, Tour
Operating agency, General Sales agent for International/
Domestic airlines, ticketing and tour arrangement activities
Delhi
Permission to issue shares to NRI against the amount received before FIPB approval
No inflow
24.
Hotel Dynamics International Limited &
Destination Marketing International Limited
Unit B, 22/F, Bank of China Tower,
1, Garden Road
Hong Kong
Hotel Dynamics India Pvt. Ltd
208, Brigade Gardens
19, Church Street,
Bangalore -1
Providing customized guest based marketing programmes for the hospitality industry
Bangalore
Transfer of shares from resident to non-resident
0.25
URBAN DEVELOPMENT & POVERTY ALLEVIATION
25.
M/s. Royal Indian Raj International Corporation
Suite 2450, 1066
West Hastings
Vancouver BC, Canada
M/s. Royal Garden City Enterprises Pvt. Ltd
Street No. 79/M,
Ist Cross,
Ramaiah Reddy Layout
Benson Town,
Bangalore
Integrated township development
Bangalore
To set up integrated township development
178.90
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