Wednesday, March 4, 2009

Cabinet clears 29 FDI proposals worth Rs 6.16 bn

The government today cleared 29 foreign direct investment (FDI) proposals which will bring Rs 6.16 billion in India.

The proposals are related to various ministries/departments, namely, commerce, economic affairs, information & broadcasting, telecommunication, tourism, industrial policy & promotion, post, defence production, and urban development, based on the recommendations of Foreign Investment Promotion Board (FIPB).

AAPC Singapore`s plan to invest Rs 3.66 billion into its Indian subsidiary is among the proposals approved on the recommendation of FIPB.

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