The Foreign Investment Promotion Board(FIPB) has cleared a proposal by the US-based Delphi Enterprises to set up a fully-owned subsidiary in the country with an investment of Rs 11 crore.
Delphi Inc was established in June 1997 with the objective of seeking economic opportunities in the emerging markets of Asia, Africa and Latin America.
The local subsidiary will establish marketing infrastructure for family planning and reproductive health care products and services, with commodities procured from domestic manufacturers.
The revenues generated by the local unit would be used as capital investments to establish manufacturing units in the country for family planning and reproductive health care products.
These products will be marketed and exported to countries that have a high demand for family planning and reproductive health care products.
The administrative ministry -- ministry for health and family welfare -- expressed no objection to the proposal subject to the following conditions:
All standards prescribed by the competent authority should be followed;
All necessary permissions from competent authorities should be taken; and
There is absolutely no commitment, support or assurance, direct or indirect, from the Indian government to purchase or promote their products.
