The Hindu Business Line : Rs 77.11-cr worth FDI proposals approved

THE Union Finance Minister, Mr Jaswant Singh, today approved 34 proposals recommended by the Foreign Investment Promotion Board (FIPB), in its meeting held on December 19.

The approvals amount to Rs 77.11 crore. The major investment proposals pertain to the sectors of chemicals and petrochemicals, manufacture of automotive components, manufacture of white and brown goods, information & broadcasting, software development and IT-related services.

Among these was a Rs 35-crore proposal of the Washington-based International Finance Corporation, the Netherlands Development Finance Company and Deutsche Investitions - UND of Germany to increase the shareholding in Indian Infrastructure Equipment Ltd.

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