Govt clears 19 FDI proposals worth of Rs 2,327-cr investment

Govt gave its nod to the proposal of Walt Disney Company, Singapore to infuse additional capital in UTV Software Communication

The government has cleared 19 foreign direct investment (FDI) proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing a total investment of Rs 2,327 crore.

"Based on suggestions of the Foreign Investment Promotion Board (FIPB) in its meeting on June 11, the government has approved the proposals," the finance ministry said. But the FIPB rejected the Multi Commodity Exchange of India’s request for a post-facto approval of the investment made by Alexandra Mauritius before the period when FDI in commodity exchanges was brought under the approval route.

The FIPB rejected the application of George Institute for Global Health (Hyderabad), BIESSE Manufacturing Company (Bangalore) and three others.

The ministry said the decision on seven proposals had been deferred. These included proposals of Ahlcon Parenterals (India) (pharmaceutical sector), Indian Rotorcraft (defence) and UBM Medica India (print media).