(a) whether the Government has allowed the Indian companies
to mobilize money from foreign countries;
(b) if so, the reasons therefor alongwith the names of the companies which have been allowed;
(c) the amount mobilized by each of the above companies and the manner in which this amount has been utilized;
(d) whether this amount has been utilized for the purpose
other than that for which mobilized; and
(e) if so, the action taken by the Government in this regard?
MINISTER OF FINANCE (SHRI P. CHIDAMBARAM)
(a) to (e): A statement is placed on the Table of the House.
Statement referred to in the reply to Lok Sabha Starred
Question No.266 by PROF. RASA SINGH RAWAT for 23-07-2004
regarding Mobilisation of Money from Foreign Countries
(a) to (c) Indian companies are allowed to mobilize money
from external sources to augment domestically available resources.
This can be in the form of :-
1. Debt through External Commercial Borrowings (ECBs) and
Foreign Currency Convertible Bonds (FCCBs); and
2. Equity through Foreign Direct Investment (FDI) including
through the Global Depository Receipts (GDRs) route.
This has to be in accordance with guidelines/policies on
ECBs and FDI respectively. Details of amounts raised through
the various routes is given below:-
(USD Million)
Year ECBs FCCBs FDI (including GDRs)
2001-02 2933 20.00 6131.00 2002-03 2823 153.00 4660.00 2003-04 3173 208.94 3429.28(Provisional)