3 FDI Proposals Approved

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 239th meeting held on 30th August 2016, the Government of India has approved the following three FDI proposals: 

Name of the applicant Gist of the proposal Sector
Dr. Willmar Schwabe lndia Pvt Ltd Approval has been sought for the following additional activities:
i.   To commence manufacturing and distribution of dietary supplement products and nutraceuticals manufactured in India by way of retail sale and/or wholesale;
ii. Distribution of dietary supplement products, nutraceuticals imported by the company by way of wholesale distribution; and
iii. To Set up health care center and provide health care services
M/s SAET India Pvt. Ltd Approval has been sought to transfer of shares from a non-resident to another non-resident for INR 732.6 per share. Investing Company
M/s Bugworks Research India Private Limited approval for transfer of equity shares from existing resident shareholders to M/s Bugworks Research Inc, USA (‘Bugworks Research Inc’) aggregating to shareholding of 99.99% of the paid up equity share capital of Bugworks India. Pharma