July 6, 2022

As many as 347 overseas direct funding (FDI) proposals, price about Rs 75,951 crore, had been gained via the federal government from international locations sharing a land border with India since April 18, 2020, Parliament used to be knowledgeable on Wednesday.

Out of 347, 66 proposals have thus far been granted approval via the federal government, and 193 circumstances had been rejected or closed or withdrawn, Minister of State for Trade and Business Som Parkash mentioned in a written respond to the Lok Sabha.

”Since 18th April 2020, 347 FDI proposals had been gained via the federal government from international locations sharing a land border with India or the place the really helpful proprietor of funding into India is positioned in or is a citizen of the sort of nation…The worth of investments proposed within the aforementioned proposals gained via the federal government is roughly Rs 75,951 crore,” he mentioned.

In April 2020, the federal government had made its prior approval necessary for overseas investments from international locations that proportion a land border with India to curb opportunistic takeovers of home companies following the COVID-19 pandemic.

Nations that proportion land borders with India are China, Bangladesh, Pakistan, Bhutan, Nepal, Myanmar, and Afghanistan. As in line with that call, FDI proposals from those international locations want executive popularity of investments in India in any sector.

The 66 licensed proposals are from sectors together with automotive (7), chemical substances (5), laptop instrument and {hardware} (3), pharma (4), training (1), electronics (8), meals processing (2), data and broadcasting (1), system equipment (1), petroleum and herbal gasoline (1), energy (1), services and products sector (11).

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The overall worth of investments of those 66 proposals aggregated to Rs 13,624.88 crore.

In any other answer, Parkash mentioned a call has been taken to broaden a platform for information change amongst all modes of operators.

Accordingly, the Unified Logistics Interface Platform (ULIP) has been designed via Nationwide Commercial Hall Construction Company Ltd (NICDC), underneath the steering of NITI Aayog.

”Thus far, the platform has been built-in with 24 programs of six ministries together with Ministry of Ports, Transport and Waterways, Ministry of Railways, Ministry of Highway Shipping and Highways, Ministry of Civil Aviation, Directorate Basic Overseas Industry and Central Board of Oblique Taxes (CBIC) thru 78 software programming interface (APIs),” he added.

Nationwide Highways Logistics Control Ltd (NHLML), a wholly-owned subsidiary of NHAI, has already invited bids for the improvement of Nagpur, Chennai, and Bangalore multi-modal logistics parks (MMLP) and initiated the feasibility find out about for MMLP at Indore.

(With inputs from PTI)

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Revealed on: Wednesday, March 16, 2022, 08:00 PM IST