The Government on Tuesday approved 21 proposals for foreign direct investment (FDI) worth Rs 280.70 crore, based on the recommendations of the Foreign Investment Promotion Board, which met here on April 30.
Among the key FDI proposals cleared are La Renon Healthcare, Gujarat, for Rs 100 crore for foreign investment in a brownfield pharmaceutical company, Rs 52.8-69 crore by Blue Dart Express for acquisition of shares in Blue Dart Aviation Limited and Rs 33.55 crore by Montblanc Services B.V, Netherlands (holding 51 per cent shares) and Titan Company Limited, India (holding 49 per cent shares) for a joint venture company for undertaking single-brand retailing of ‘Montblanc’ products.
The government decided to defer 12 proposals and seven proposals were rejected. One proposal by Huawei Telecommunications (India) Company Private Limited was withdrawn, an official release here said.