19 FDI proposals cleared Exim News Service

The Union government(India) has approved 19 foreign direct Investment (FDI) proposals worth Rs.4,340.77 crore, a Finance Ministry statement said. These include Rs.1,100 crore of Tata Steel to issue warrants as part of fund mobilisation plan and Qualcomm's proposal to invest a total a Rs.797crore for Internet and broadband services. These approvals were based on the recommendations of the Foreign Investment Promotion Board (FIPB) in its meeting on December 31. However, the government of India deferred decision on 16 FDI proposals.