Breaking: Amazon gets FDI approval to set up Logistic Arm for its Online Marketplace!

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Amazon.com, world’s largest retailer today received Indian Government’s FDI approval to set up its logistics operation for “soon to be launched” online marketplace. In December, Amazon had applied for the same with Indian authorities and in just over a month it has been approved in  Foreign Investment Promotion Board (FIPB) Meeting held on 20.01.2012.

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Amazon’s approval was among 20 FDI proposals that were given a go-ahead by Indian authorities. M/s Amazon Asia-Pacific Resources Pvt. Ltd. will invest Rs. 15 crore to to set up a Wholly Owned Subsidiary to undertake the business of online market place operator and retailer inter-alia courier services.

Amazon’s recent launch of Junglee.com was probably the first step, but the signs are imminent that we will soon see Amazon operating its own marketplace in India!

20 FDI proposals approved by Foreign Investment Promotion Board

Sl. No.
Name of the applicant Particulars of the proposal FDI/NRI inflows (In crore)
1 M/s Canali Holding S.P.A, Italy To set up a JV company with 51% foreign equity participation for single-brand retailing. 7.65
2 M/s Timex Garments Pvt. Ltd. To set up a JV with 50% equity participation to set up single brand retail stores. 0.5
3 M/s Interactive Brokers (India) Pvt. Ltd., Mumbai To set up a WoS in India to carry out the business of commodity broking business. No fresh inflow
4 M/s Deltronix India Limited To allot equity shares in lieu of amount payable for plant and machinery to carry out the business of manufacture of transport equipment and parts. 9
5 M/s Chemtrols Samil (India) Pvt. Ltd., Mumbai Ex-post-facto approval for issue of partly paid up shares to carry out the business of manufacturing of industrial valves, magnetic level gauges and process control equipment. 1.28
6 M/s Kris Sumeru Investments Pvt. Ltd., Bangalore Post facto approval for issuance and allotment of equity shares, as the company at present, is neither an operating nor an investing company. 4.45
7 M/s Fluke South East Asia Pte. Ltd., Singapore To incorporate an Investing Company to make downstream investments in other Indian companies engaged in the business of wholesale trading and related activities. 400
8 M/s Tata AutoComp GY Batteries Ltd., Pune Ex-post-facto approval for issue of partly paid up shares to carry out the business of manufacturing, designing, developing and selling of starting lighting-ignition automotive lead acid storage batteries for cars and utility vehicles. 25
9 M/s Zipcash Card Services Pvt. Ltd. Ex-post facto approval for issuance of convertible preference shares for issuance and operations of ‘pre-paid payment instrument’ in India. Nil
10 M/s Pharmaceutical Ingredients and Formulations India Pvt. Ltd., Bangalore Transfer of shares from NRI to NR in pharmaceuticals sector (brownfield investment). Nil
11 M/s Outsourcepartners International Private Limited, Bangalore Ex-post facto approval for conversion of equity shares from non-repatriable to repatriable basis to carry out the business of IT and IT Enabled Services.  0.001
12 M/s Cigniti Technologies Ltd., Hyderabad Transfer of shares by way of share swap to carry out the business of IT Services, software development. Nil
13 M/s Amazon Asia-Pacific Resources Pvt. Ltd., Singapore To set up a WoS to undertake the business of online market place operator and retailer inter-alia courier services. 15
14 M/s Aptuit Laurus Private Limited, Hyderabad Increase in foreign equity. The company is engaged in the pharmaceutical sector. 47.95
15 M/s Akorn Inc, USA. Acquisition of 100 percent equity shares of a company engaged in pharmaceuticals sector. 0.01
16 M/s APF II India Investments Pvt. Ltd., Mauritius To invest in the units of a FUND. 300
17 M/s Oxigen Services (India) Pvt. Ltd., Gurgaon Ex-post-facto for induction of foreign investment to carry out the business of providing B2B Services like mobile, DTH & Broadband Recharges, Bill payments, Travel and Ticketing, both by rail and air. 1.06
18 M/s Alliance Data Pte. Ltd., Singapore To undertake the additional business of publishing and printing an Indian edition of a foreign specialty magazine. Nil
19 M/s Edict Pharmaceuticals Pvt. Ltd. Transfer of 100 percent equity to foreign investor. The company is engaged in the pharmaceutical sector. 171.53
20 M/s Multiples Private Equity Fund I Limited, Mauritius Acquisition of the equity shares of the company engaged in the operation of India’s first nationwide, automated and online power exchange and offers products that permit trading in electricity and renewable energy certificates. 50.94

  1. Varun Kumar says

    :)

  2. Dhruv Goyal says

    First to break the news…..

  3. Dhruv Gpyal says

    First to break the news….

  4. Vishal Gupta says

    Bingo!

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