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Shantha Biotechnics’ proposal for setting up a brownfield project was among the 22 foreign direct investment proposals that got the FIPB approval today.
The Foreign Investment Promotion Board, the nodal agency for considering FDI, approved proposals worth Rs 586.13 crore.
The company’s Rs 514-crore proposal to increase foreign equity in brownfield pharmaceutical sector to carry out research and development activities, manufacturing and marketing of recombinant DNA-based bio-tech products and other bio-generics was among the key FDI proposal.
At least 18 proposals were deferred on various grounds, while five proposals have been rejected.
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