Govt clears 29 FDI proposals worth Rs 616 cr

The government today approved 29 foreign direct investment (FDI) proposals that will bring in Rs 616.08 crore into the country.

AAPC Singapore's plan to invest Rs 365.78 crore into its Indian subsidiary is among the proposals approved on the recommendation of Foreign Investment Promotion Board (FIPB).

ABG Bulk Handling will bring in Rs 90 crore for making further downstream investments, while Telcordia Technologies will invest Rs 45 crore for providing number portability solutions.

A proposal from Cinema Capital Ventures Fund to pump in Rs 50 crore in the media and entertainment sector also received clearance.

Poltrona Frau will bring in Rs 21.50 crore in single brand retail trading.