Pitney Bowes gets nod for 100% arm

By SiliconIndia   |   Wednesday, 19 November 2003, 08:00 Hrs
Printer Print Email Email
NEW DELHI: US-BASED Pitney Bowes, which deals in wholesale trade of hi-tech mail and data management systems, was on Tuesday allowed by the government to set up a wholly-owned subsidiary in the country.

The MNC's initial investment would be Rs 23 crore. Union finance minister Jaswant Singh also cleared a proposal from Health Scribes of the US to acquire shares of its Indian arm for Rs 11 crore.

In all, Singh approved 23 FDI proposals recommended by the Foreign Investment Promotion Board today. The approvals amount to a total of Rs 40.755 crore.




SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..