13 FDI proposals cleared

Union Finance Minister, Shri P. Chidambaram has approved 13 Foreign Direct Investment proposals recommended by Foreign Investment Promotion Board (FIPB) in its meeting held on 29th March, 2007. The approval amounts to Rs. 476.6837 crore.

The proposals relate to Ministries/Departments, namely, Commerce, Information & Broadcasting, Information Technology, Telecommunications and Economic Affairs. The major investment proposals pertain to the Ministry/Departments of Commerce, Information & Broadcasting and Economic Affairs.

The proposals include M/s. Vonage Holdings Corporation, USA, Mahtani Fashions Pvt. Ltd, Quinn Logistics Sweden, Sweden, MS Strategic (Mauritius) Ltd, Mauritius, Actis Investment Holding No. 47 Ltd, Mauritius, Actis Investment Holdings No. 48 Ltd, Mauritius, Citigroup Strategic Holdings Mauritius Ltd, Mauritius, Mother Care UK Limited, UK, Times Global Broadcasting Co. Ltd, Worldcom Communications (I) Pvt. Ltd.(now changed to M/s. Verizon communications India Pvt. Ltd.), Exel India Pvt. Ltd, ASC Enterprises Ltd, Rolta India Ltd, Mumbai.

Source : Press Information Bureau

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