The Government on Thursday approved 10 foreign direct investment proposals amounting to Rs 1,259.92 crore.
While Foreign Investment Promotion Board approved Walt Disney Company’s Rs 1,000 crore proposal to make downstream investments in its subsidiaries, it deferred Unitech Wireless’ proposal to induct foreign equity to carry out business of providing unified access service.
The proposals approved include DEG’s proposal to induct Rs 55 crore into India Fund, its investing company, and Equitas Holding’s Rs 140-crore proposal to increase foreign equity participation. Sixteen proposals were deferred.
These include Mahindra and Mahindra’s joint venture with Rafael Advanced System for production and development of naval defence system, Braun Singapore’s proposal to acquire shares in intravenous fluids and Pfizer’s proposal to induct foreign equity in an operating and investing company.
The nodal agency rejected four proposals.