Nod to 16 FDI proposals worth Rs.4,722 crore

New Delhi: The government on Thursday approved 16 FDI investment proposals amounting to Rs.4,722 crore, an official statement said.

“The FDI proposals were cleared based on the recommendations of the Foreign Investment Promotion Board (FIPB) in a meeting held on September 29,” said a finance ministry statement.

Of the 16 approved proposals, HDFC Capital Advisors proposal is highest at Rs.2,400 crore.

Other big tickets approved proposals emerged from Sun Pharma Research Advanced Company (Rs.250 crore), IVF Trustee Company (Rs.608 crore), Aditya Birla Nuvo (Rs.377 crore) and Aegon Religare Life Insurance Company.

The other proposals were from Schulke India, Synergia Life Sciences, Strides Arcolab, MMI Strategic Investments, Safran Engineering Services India, Multi Screen Media Private, International Trade and Exhibitions India, Energy City Navi Mumbai Holding Company, Gulf Packaging Machines JLT, Blue Star Infotech and Indian Herbs Specialities.