Sunday, July 12, 1998
FIPB defers Tata, Daewoo proposals
The Foreign Investment Promotion Board (FIPB) yesterday deferred by four weeks a decision on the Rs 1,475 crore Tatas' proposal to set up a domestic airline, much to the "disappointment" of the company. However, the proposal of Bharti Global, an overseas subsidiary of the Sunil Mittal-promoted Bharti Enterprises, to hike its equity in two group companies -- Bharti Telecom and Bharti Healthcare -- was cleared by the (FIPB).
India to miss export target: Hegde
Union Commerce Minister Ramakrishna Hegde on Saturday admitted that the country will again have difficulty in meeting export targets for the current fiscal. Hegde said there has been a slowdown in the industrial production and due to the fall in agricultural production, the scope for export growth has come down.
Modicom drags DoT to TRAI
Modicom Networks, which has the cellular licence for Punjab and Karnataka under the brand name Spice, has dragged the Department of Telecommunications (DoT) to the Telecom Regulatory Authority of India (TRAI) alleging discriminatory treatment by the department between different cellular operators.
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