Govt clears 20 FDI proposals worth Rs 1k cr

The government, on Friday, approved 20 foreign direct investment proposals, including that of Fluke South East Asia Pte, APF II India Investments Mauritius and Edict Pharmaceuticals, that envisage a total investment of Rs 1,034.37 crore.

The proposals were cleared following recommendations of the Foreign Investment Promotion Board (FIPB).  The government cleared Fluke South East Asia Pte’s Rs 400 crore proposal to incorporate an investing company to make downstream investments in other Indian firms engaged in wholesale trading and related activities. Besides, the Board also cleared a proposal of Mauritius- based APF II India Investments Pvt Ltd’s involving investment of Rs 300 crore.

However, decision on 15 proposals including Ashok Leyland Defence Systems was deferred and two others  rejected.

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