Monday, April 20, 2009

FIPB TO TAKE UP YAMAHA, NOKIA PROPOSALS TOMORROW

New Delhi, April 20, 2009
The Economic Times Mail Today

After deferring it earlier, the Foreign Investment Promotion Board (FIPB) will again take up Japanese two-wheeler major Yamaha's proposal to transfer its Indian sales business to a new entity - India Yahama Motor Pvt Ltd - tomorrow.

The FIPB will also consider Nokia Corporation's proposal to enter into a joint venture with HCL Infocomm to set up exclusive retail outlets for selling handsets and services to Indian consumers.

If approved, this will be the first single-brand retail JV in the mobile handset business in India.

Yamaha Motor India Sales Pvt Ltd (YMISPL) is seeking FIPB approval to transfer its business to India Yamaha Motor Pvt Ltd (IYMPL), a wholly-owned subsidiary of Yamaha Motor Co, Japan.

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