Govt approves 7 proposals for FDI amounting to Rs 981.15 cr

New Delhi, July 30 (KNN) Government, on Wednesday, approved seven proposals of Foreign Direct Investment (FDI) amounting to around Rs 981.15 crore.

“Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on July 3, 2015, Government has approved 07 proposals of Foreign Direct Investment amounting to Rs 981.15 crore approximately,” said a statement from the Ministry of Finance.

Some of the applicants of the approved proposals are Celon Laboratories Limited, Hyderabad, Telangana (Pharma); Keppel Puravankara Development Private Limited, Bangalore (Real Estate);Lalea Trading Ltd, Cyprus (Real Estate); Hathway Cable and Datacom Limited (Telecom and Broadcasting); Cheetah Communications Private Limited, New Delhi (Telecom); Destimoney Enterprises Limited (Investing Company) and Kotak Mahindra Bank Limited, Mumbai (Banking).

According to the release, another six proposals have been deferred. (KNN Bureau)