US companies top in FDI JV in India

New Delhi, Dec 4: As many as 1173 joint ventures were given approval with Foreign Direct Investment (FDI) from April 2004 to August 2007, the Lok Sabha was informed today.

In a written reply, Minister of State for Commerce and Industry Ashwani Kumar said the 1173 approved projects entailed a total investment of 7476.47 million US dollars.

The highest of 767 projects were given approval during 2004-05.

Companies in as many as 60 countries were given approvals for FDI joint venture during April 2004-August 2007. Out of this, the US tops the list with 210 projects, followed by Mauritius (85), the United Kingdom (59), Singapore (51), Germany (36) and the UAE (34).

A total of 45 Non Resident Indians (NRI) were given approvals for FDI joint venture with a total turnover of RS 1096.98 million US dollars, Mr Kumar said.

UNI