Government approves Rs 643.25 crore FDI investments

New Delhi, July 6: The Union government on Wednesday approved four Foreign Direct Investment (FDI) proposals entailing a total investment of Rs 643.25 crore.

"On the recommendations of the Foreign Investment Promotion Board (FIPB), the government has approved three FDI proposals of Rs 223.25 crore, and one proposal involving FDI of Rs 420 crore," a statement said.

One proposal each from Corona Remedies Private Limited and Ordain Health Care Global Pvt. Ltd. in the pharmaceutical sector were approved, proposing investment of Rs 118 crore and Rs 77.05 crore, respectively.

Another proposal from Macmillan Publishers International Ltd, UK, involves investment of Rs 28.20 crore.

The proposal of Advanced Enzyme Technologies Ltd. entails Rs 420 crore overseas investment.

Eight proposals in sectors like non-banking financial company, pharmaceuticals, defence, telecom, wholesale trading and investment company have, meanwhile, been deferred, it said.

The government rejected two proposals, one each from Flag Telecom Singapore Pte Limited, Singapore, and Star Den Media Services Private Limited.

IANS