The government cleared 15 foreign direct investment proposals worth Rs 70.1 crore (Rs 701 million) including that of Honda Motor, Teva Pharmaceuticals, Fijitsu, Atlanta Electricals and Marubeni Corporation.

The FDI proposals approved by Finance Minister Jaswant Singh, as recommended by the Foreign Investment Promotion Board, mainly pertains to chemicals, petrochem, electrical and software sectors.

The FIPB approved Honda Motor's plea for change in royalty terms with its Indian JV Honda Siel Power Equipments. No fresh inflow of capital is involved in this process.

Teva Pharmaceuticals Finance Netherlands BV plans to acquire 100 per cent in an Indian company for Rs 40 crore (Rs 400 million) was the largest FDI proposal cleared on Monday.

Fijitsu General Asia Pte of Singapore and Fujitsu General of Japan plans to increase their holding in Chennai based ETA General Ltd to 50 from 30.56 per cent for an investment of Rs 10 crore (Rs 100 million).

Another Japanese major, Marubeni Corporation, and Japan Exlan Company intends to revise their foreign holding to 13.82 from 11.54 per cent in Vardhman Acrylics.

Atlanta Electrical Insulation GmbH of Germany also plans to acquire an Indian company for 7.92 crore (79 million), while UK-based Cookson Group Plc wants to increase its holding to 100 from 98.40 per cent in its Indian company Gookson India.