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.
