$ 1.43 bn FDI in 3 monthsMUMBAI: A total FDI inflow of $ 1.43 billion has been received in the first three months of the current calendar year. The government has approved 160 foreign and technical collaborations proposals involving FDI amounting to $ 820 million in March 1999. The FDI inflow since 1991, when the process of globalisation started, has touched $16.62 billion out of a total approval of $55.63 billion.FIIs accelerate investments in IndiaMUMBAI: FIIs appear to be on the comeback trail. The net FII investments in equities have surged to Rs 440 crore till July 8, compared with Rs 410 crore during June when the markets witnessed volatile movements. On Friday, the net FII inflow was Rs 165 crore with purchases of Rs 241 crore far outweighing sales of Rs 95 crore.Ispat acquires Usinor companiesMUMBAI: Lakshmi N Mittal, one of the rich Indians in the world, has finalised a deal for the acquisition of three companies belonging to the Paris-based Usinor group, theworld's second largest steel-maker. Ispat International NV, the flagship of Mittal's LNM group of companies, announced that it had completed all the formalities for the acquisition of Unimetal, Trefileurope and Societe Metallurgique de Revigny belonging to the Usinor stable.Vivek Paul joins Wipro as vice chairmanBANGALORE: Wipro Limited today announced that Vivek Paul had been appointed as vice chairman on its board of directors with effect from July 26, 1999. He would be president and chief executive officer of Wipro Infotech Software and Services Group, and be based at Wipro's Santa Clara office in California, USA, a company press release said here today. Vivek Paul, 41, was formerly with General Electric of USA, where he was the head of their global computerised tomography (CT) business since 1996, the release added.Garment exports up 11.10% in H1NEW DELHI: India's garment exports touched nearly $ 3 billion during the first half of this year, registering a growth rate of 11.10 percent compared with the same period a year ago. During January-June this year, 76.68 crore pieces were shipped from the country at a value of $ 2.83 billion (Rs 12,094.75 crore) against $ 2.55 billion (Rs 10,224.25 crore), an Apparel Export Promotion Council release said.
