November 21, 2001
'17'IMPACT OF NEW FDI PROPOSALS ON INDIGENOUS INDUSTRY
During the last two years (from 1.1.99 to 30.9.2001), a total number of 4900 FDI proposals involving FDI amounting to Rs.87994.41 crore have been approved. Consideration of FDI proposals is an ongoing process and there is no fixed year-wise target for receiving FDI. FDI also helps in enhancing domestic industry competitiveness by way of technology transfer, linkages with domestic suppliers, etc. This was stated by Dr. Raman Singh, Minister of State for Commerce & Industry, in a written reply in the Rajya Sabha yesterday.
In reply to another question, Dr. Raman Singh said: Under the new economic reforms, till September 2001, three proposals involving FDI of Rs.5077.82 lakh have been approved for Megalaya, including two proposals involving an investment of Rs.4477.82 lakh approved during the last three years, i.e., from January 1998 to September 2001.
The details of approvals are published in the monthly SIA newsletter brought out by Department of Industrial Policy and Promotion, which is widely circulated to various establishments, including the Parliament Library. This information is also posted in SIA Website (http://www/nic.in/indmin). The data regarding employment generation is not centrally maintained.