Swiss firm Nuance Group's plan to set up duty-free shops in airports and Nokia Siemens Networks' proposal to make investment for manufacturing telecom equipment were among the 18 applications involving a total of 64.66 crore (Rs 646.6 million) FDI inflow cleared by the government on Thursday.
While Nuance Group plans to invest Rs 25 crore (Rs 250 million) to manage duty-free shops in airports, Nokia Siemens Networks would make an investment of Rs 12.42 crore (Rs 124.2 million) in manufacturing and marketing of telecom equipment.
The proposals were cleared by Finance Minister P Chidambaram on the recommendations of Foreign Investment Promotion Board, an official statement said.
Nuance Group's proposal is to undertake operation and management of duty-free shops, food and beverage outlets at airports in Mumbai, Bangalore, Hyderabad and other places.
Besides, Italian company Ermenegildo Zegna Holditalia would set up a single brand 'zegma' retail stores in India. The proposal involves FDI of Rs 1.53 crore (Rs 15.3 million).
Parry Murray & Company of UK would set up a subsidiary in Chennai for trading of textile and other products for home furnishing sourced from third parties. The proposal involves FDI of Rs 0.2 crore (Rs 2 million).
Mauritius-based Nalisfield Ltd would set up a subsidiary to make investment of Rs 4.6 crore (Rs 46 million) in India.
