10 FDI proposals worth Rs.607 crore cleared

New Delhi, Feb 16: The Indian government on Tuesday approved 10 FDI proposals amounting to Rs.607 crore, based on the recommendations of the Foreign Investment Promotion Board (FIPB).

The approved proposals were from Atria Convergence Technologies, Glenmark Pharmaceuticals, Euronet Services India, Emcure Pharmaceuticals and AvH Resources India.

The approved list also included FDI proposals from Cipla, Alstom Manufacturing India, Capricorn Ventures, DEN Networks and Celestis Pharmaceuticals.

Of the approved proposals, the highest proposal emerged from Alstom Manufacturing India at Rs.400 crore, followed by Cipla's Rs.145.22 crore.

Another FDI proposal amounting to Rs.5,856.51 crore has been recommended to be approved by the Cabinet Committee on Economic Affairs (CCEA) while five proposals from Ashedene Investments, Veritas (India), KDK Softwares, Kemefs Specialities and Afro Asia Equipments were rejected.

IANS