FDI Proposals Get Green Light from Government
The Government of India has given its nod to 21 foreign direct investment (FDI) proposals, totaling a whopping ₹1,027 crore. This move is expected to boost investment in various sectors, including real estate and tea production.
Approved Proposals:
- Oriental Tollways Pvt Ltd: The Foreign Investment Promotion Board (FIPB) approved the proposal for the launch of foreign equity in an investing company, which will bring in FDI worth ₹475 crore. The project is set to be launched in Delhi and Haryana.
- Darjeeling Organic Tea Estates: The board also approved the application for the launch of foreign equity and collaboration to handle the business of production, distribution, and export of tea. This proposal aims to attract FDI worth ₹93.37 crore.
FIPB's Decision on Other Proposals:
- Total Proposals Considered: 47
- Proposals Delayed: 17
- Proposals Refused: 9
- Approved Proposals (Besides the two mentioned above): 19 (worth ₹458.63 crore), including the proposal from ACB India.
Source: Ministry of Finance