New Delhi: Giving fast clearance to foreign investment, the Foreign Investment Promotion Board approved 15 FDI proposals worth Rs 7,261 crore and recommended another proposal of Rs 6,885 crore to the CCEA for clearance.
“Proposals for Rs 14,146 crores cleared by FIPB in meeting held on 7th March. FDI inflow continues. Fast clearances make a difference,” economic affairs secretary Shaktikanta Das tweeted on Monday. The FIPB, headed by the economic affairs secretary, is an inter-ministerial panel that can approve FDI proposals of upto Rs 5,000 crore.
Japanese insurer Nippon Life Insurance, Tata AIA and Aviva Life were among the 15 companies whose FDI proposals were approved by FIPB. Yes Bank’s proposal to hike foreign investment limit was sent to CCEA.
