21 FDI proposals approved by Centre

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The Central Government of India has approved 21 Foreign Direct Investment ( FDI) proposals based on the recommendations of the Foreign Investment Promotion Board (FIPB).

The FIPB cleared these proposals amounting to over Rs. 280 crores at a meeting held on April 30.

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The proposals involving an investment of more than Rs. 3,000 crore still needs clearance from the Cabinet Committee on Economic Affairs.

The proposals that have been cleared include pharma firm La Renon Healthcare’s proposal to invest Rs.100 crore in a brown field project and Blue Dart Express’s proposal to acquire shares in Blue Dart.

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Also includes Aviation Ltd., which involves increasing the shareholding to 74 per cent from the existing 49 percent.

The Kotak Bank’s proposal for increasing the aggregate foreign investment limit in the bank to 55 per cent has been deferred by the FIPB along with 11 other proposals.

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