17 FDI Proposals Meet FIPB Approval

The Finance Ministry accorded its approval to 17 FDI proposals worth Rs.590 crore. Of the 17 approvals, Quinn Hotels of Sweden has put up the largest investment with Rs 31 3.33 crore.

The Foreign Investment Promotion Board recommended the proposal from EADS,
the European aerospace company, to invest Rs.5.3 million to establish a consultancy,
training, and after sales service in India.

Google Holding based in Singapore
has been given the go-ahead to invest of Rs.15 crore in Ventureeast Denet
Fund, a venture capital fund.

Orix Corporation of Japan has been given
approval to buy out a 5% stake worth Rs.36 crore in IL&FS.

Bhilwara Energy will borrow from foreign investors by selling 8.26% of its stock and will invest in power generation and transmission.

Besides, Rs.460 million will be invested in various Indian firms by the
Saudi Economic and Development Company.
Flemingo Duty Free Shops make their debut in India with approval for Rs.100
crore to set up stores at airports and seaports.

Photo: Composition of Supreme Court of India at the day of retirement of by MildGovernor, licensed under CC BY-SA 4.0, via Wikimedia Commons.