India Clears FDI Proposals Worth More Than US$510 Million

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Mar. 30 – The government has cleared 23 foreign direct investment proposals amounting to more than Rs.23.25 billion,  or about US$510 million.

The highest FDI proposals came from broadband services provider Tikona Digital Network followed by components maker Bharat Forge and medical device maker Opto Circuits. “The Union Government has approved 23 FDI proposals amounting to approximately Rs.2,325.21 crore,” according to an official statement.

The government did not approved all submitted FDI proposals and has decided to postpone eight proposals that include projects from Essar Capital Holding, Verizon Communications and Etisalat DB Telecom while also rejecting six other FDI proposals.