India clears 6 foreign investment proposals worth Rs 1,200 cr

New Delhi, Dec 29 (IANS) India’s Foreign Investment Promotion Board (FIPB) on Thursday approved six investment proposals cumulatively worth Rs 1,200 crore, a senior official said.

The FIPB headed by Economic Affairs Secretary Shaktikanta Das approved the proposals of Sanofi Synthelabo India, Star Den Media Services and Idea Cellular Infrastructure Services, Boehringer Ingelheim India, Menarini India and Recipharm Participation, the official said.

Among three proposals rejected, was that of AMP Solar India Pvt Ltd.

Six proposals, including those of Crest Premedia Solutions, You Broadband India and Scientific Publishing Services were deferred for further consultation and want of more information, the source added.

Overall foreign direct investment into India at $21.62 billion during the first half of 2016-17, increased by 30 per cent as compared to the same period in the last fiscal.

FDI in the country grew by 29 per cent to $40 billion in 2015-16, as compared to $30.94 billion in the previous financial year.

–IANS

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