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Govt clears six FDI proposals worth Rs 1,186.50 cr
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SME Times News Bureau | 20 Jan, 2017
The central government on Thursday cleared six foreign direct investment (FDI) proposals worth Rs 1,186.50 crore.
According
to the Ministry of Finance, the government approved the six FDI
proposals on the basis of recommendations received from the Foreign
Investment Promotion Board (FIPB).
"Based on the recommendations
of FIPB in its 242nd meeting held on 29th December 2016, the government
has approved six FDI proposals," the ministry said in a statement.
The
ministry disclosed that proposals of Recipharm Participation B.V.
Netherlands, A. Menarini India Private and Boehringer Ingelheim India
among others were approved.
However, six proposals including those from Gland Pharma, Flag Telecom Singapore and Crest Premedia Solutions were deferred.
The government rejected three proposals from Tandberg Technology India, AMP Solar India and Bashundhara Paper Mills India.
The
overall FDI inflows into India increased by 30 per cent to $21.62
billion during the first half of 2016-17 as compared to the same period
during the last fiscal year.
The FDI inflows into the country
grew by 29 per cent to $40 billion in 2015-16, as compared to $30.94
billion in the previous financial year.
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