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Govt clears FDI proposals

News:

  • Government has cleared 10 foreign direct investment (FDI) proposals entailing capital inflows of Rs 1,675.15 crore into the country.
  • The inter-governmental panel, chaired by Finance Secretary, cleared the proposal of Singapore-based Nickelodeon Asia Holdings resulting in an investment of Rs 940.50 crore.
  • The government also cleared Rs 620 crore FDI proposal of NTT Communications India Pvt Ltd for downstream investment in an Indian company yet to be incorporated for carrying out the telecom services.
  • Two proposals from the pharma sector also got nod.
  • A proposal of Ajeet Pratap Singh of Indore was also cleared for setting up of Limited Liability Partnership (LLP) with FDI of 70 per cent.

Source:Business Standard

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