| Date: |
07-09-2012 |
| Subject: |
India approves $371.5 mln FDI proposals |
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(Reuters) - India approved 11 foreign direct investment proposals worth 20.68 billion Indian rupees ($371.5 million) including 8.08-billion-rupee plans of Mauritius-based Cloverdell Investments, a government statement said on Thursday.
The proposals were approved by Finance Minister P. Chidambaram on the recommendations of Foreign Investment Promotion Board.
Since taking charge of the ministry last month, Chidambaram has directed officials to put FDI approvals on fast track as part of a drive to revive investor confidence after growth slowed to its slowest pace in nearly a decade.
Source : in.reuters.com
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