The govt. today approved 21 foreign direct investment (FDI) proposals worth Rupees 1,027 crore, including ACB India and Oriental Tollways. FIPB took a total of 47 FDI proposals but the board delayed decisions on 17 applications and refused nine, the Ministry of Finance stated.
The board gave its approval to ‘Oriental Tollways Pvt Ltd’ (Delhi and Haryana) for launching of foreign equity in an investing company. The proposal may bring in FDI worth Rupees 475 crore and ‘Darjeeling Organic Tea Estates’ application for launching of foreign equity and to a collaborator to handle the business of production, distribution andalso the export of tea was approved by the Foreign Investment Promotion Board. The firm aims at FDI worth Rupees 93.37 crore.