Government defers approval to Agusta Westland- TATA Sons JV FDI

Q.  Government of India has deferred approval to FDI in an Indian JV with AgustaWestland and which Indian company?
- Published on 04 May 16

a. Godrej
b. Reliance Defence
c. TATA Sons
d. Mahindra & Mahindra

ANSWER: TATA Sons
 
Government of India has deferred approval to the Agusta Westland FDI in Indian JV among charges over alleged kickback in the helicopter deal. FIPB has deferred a decision on increase in FDI in the Italian firm’s joint venture with TATA Sons.
  • Previously, Rotorcraft, a joint venture of AgustaWestland (Finmeccanica firm) and TATA Sons was set up for an assembly line for AW119Ke helicopters.
  • It had sought post facto approval of FIPB for increasing FDi inflow of INR 19.64 crore against INR 17.6 crore approved in September 2011
  • Apart from the increased FDI inflow, approval was also sought for a change of foreign investor from Agusta Westland to Finmeccanica by way of merger of the two.

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