Govt Clears FDI Proposals Amounting To Rs 6,050 Cr

14 January, New Delhi

Government Thursday gave its nod to five foreign direct investment (FDI) proposals, entailing an investment of Rs 6,050 crore.

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 229th meeting held on December 21, 2015, the government has approved five (05) proposals of Foreign Direct Investment (FDI) amounting to Rs 6050.10 crore, the Finance Ministry said in a statement.

The government has also approved a Rs 5,000-crore plan of Cadila Healthcare for fresh equity infusion.The other proposals were approved included Recipharm Participation BV worth Rs 1,050 crore and Buimerc Core Investments Private Limited of Rs 0.10 crore.

In addition, the government also approved Health Media Publishing Pvt Ltds proposal to transfer its 99.90 per cent shares by NRI Ajit Patel to Wellness Technology and Media Ptv Ltd, UK.However, the government deferred six FDI proposals while rejected two.