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Govt clears 21 FDI proposals

May 12, 2004 19:17 IST

The government on Wednesday cleared 21 foreign direct investment proposals worth Rs 18.46 crore (Rs 184.6 million).

The FDI proposals approved by Finance Minister Jaswant Singh on the recommendation of the Foreign Investment Promotion Board mainly pertain to manufacturing, healthcare, diamond, telecom and IT sectors.

The Thailand-based CP Group's Rs 10 crore (Rs 100 million) investment in Charoen Pokphand India was the major proposal cleared today.

Vectone Holdings has received the approval to invest Rs 7.2 crore (Rs 72 million) in Vectone India.

Star Diamond also got the approval to invest Rs 1.12 crore (Rs 11.2 million) in its Indian arm.

Energy majors -- Total FinaElf and Mobile -- obtained the permission for deletion of the divestment clause in their Indian arms.

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