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Govt nod to 20 FDI plans of 1,033 cr

  • The Government today on Feb 11 approved 20 foreign direct investment proposals amounting to around Rs 1,034 crore. The proposals were cleared following recommendations of the Foreign Investment Promotion Board.
  • According to the Ministry of Finance release, the Government cleared Singapore-based Fluke South East Asia Pte's Rs 400-crore proposal to incorporate an investing company to make downstream investments in other Indian firms engaged in wholesale trading and related activities. Besides, the Board also cleared a proposal of Rs 300-crore for a Mauritius-based company.
  • However, decision on 15 proposals, including that of Ashok Leyland Defence Systems, was deferred and two others were rejected.


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