India approves 20 foreign technology collaborations

Thursday, 30 October 2003, 08:00 Hrs
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NEW DELHI: India Wednesday cleared 20 cases of foreign technology collaboration and franchise agreements, including one giving IMAX Corporation of Canada permission to set up three large format theatres in the country.

Commerce Minister Arun Jaitley approved the 20 cases on the recommendations of the project approval board of the Department of Industrial Policy and Promotion, the commerce ministry said.

The approved proposals include a technical collaboration agreement between EMA India Ltd. and Germany's Eldec Schwenk Induction GmbH for manufacturing high frequency transistorised converters.

The government has allowed a technical agreement between Cummins of the U.S. and its Indian subsidiary for manufacturing an internal combustion piston engine.

Similarly, Germany's Robert Bosch GmbH has been granted approval for entering into a trademark agreement with its Indian subsidiary for fuel injection systems for petrol engines and Switzerland's ABB Technology has got approval for a technology agreement with its Indian arm to manufacture instrument transformers.

"The technology agreement of Samurai Entertainment with Canada's IMAX Corporation for setting up three large format theatres was also included in the list of approved cases," the commerce ministry said.

The licensing committee in its meeting held on October 20 had recommended 14 proposals for grant of industrial license or amendments in existing ones. The main areas of the approvals include textiles, food products and pharmaceuticals.

Source: IANS
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