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Govt clears 10 FDI proposals worth Rs 505 crore

An inter-minister committee gave green signal to 10 foreign direct investment (FDI) proposals worth Rs 505 crore

Policy Pulse
Publish Date: Apr 9 2016 12:04PM | Updated Date: Apr 9 2016 12:04PM

Govt  clears 10 FDI proposals worth Rs 505 crore

An inter-minister committee gave green signal to 10 foreign direct investment (FDI) proposals worth Rs 505 crore.

 
Foreign Investment Promotion Board (FIPB) approved 10 proposals out of 18 on the agenda.
 
Of 18, two proposals were rejected and four were deferred.
 
India allows FDI in most sectors through automatic route. But, investment in certain sectors needs the clearance of the FIPB.
 
During April-December of last fiscal, FDI in country grew by 40 percent, year-on-year, to nearly Rs 1.96 lakh crore.