The Centre has approved four FDI proposals worth Rs. 93.81 crore which include ones from Oxford University Press and Dr Reddy’s Laboratories.
Four FDI proposals were rejected, which included three in the defence manufacturing sector, while eight others were deferred. The decisions were taken based on the recommendations of the Foreign Investment Promotion Board (FIPB), which met on October 27. Oxford University Press had sought approval for setting up of a wholly-owned-subsidiary in India with an initial authorised and paid up share capital of Rs. 1,00,000. Over a period of time it seeks to make foreign direct investments by way of subscription to compulsorily convertible preference shares, compulsorily convertible debentures and equity shares. The proposal worth Rs. 44.41 crore was approved.