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FIPB rejects 3 proposals

NEW DELHI APRIL 17. The Government is believed to have rejected proposals by two Dutch firms, Stahl and Perstorp, and by Benq India (earlier called Acer Peripherals) seeking more time for test marketing their respective products, as none of these firms has begun manufacturing in India, as required by the entry conditions.

While Stahl India has existing approval for manufacturing leather finishes, auxiliaries and process chemicals, Perstorp Netherlands BV set shop here for making laminated flooring material and accessories. Acer Peripherals has an approval for manufacturing monitors and CD-ROM drives.

According to sources, in its meeting held on March 21, the Foreign Investment Promotion Board (FIPB) has recommended rejection of all the three proposals on the advice of the Commerce Ministry.

PTI

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