The Government has approved 31 foreign direct investment proposals worth Rs 3,844.7 crore.
This includes Rs 1,000 crore by Multiples Pvt Equity Fund- Scheme-1, Mumbai and Rs 750 crore by Cox & Kings.
The approvals are based on Foreign Investment Promotion Board's recommendations, an official statement said on Tuesday.
However, 18 proposals have been deferred. These include that of Walt Disney Co India to undertake broadcasting and downlinking and Vodafone Essar in telecom-related activities.
The proposal of Multiples Pvt. Equity Fund – Scheme-1 is to issue units, to make investments in securities of Indian companies and to distribute income realised on its investment.
Cox & Kings' proposal is to use the investment to carry out leisure travel services, corporate travel services, visa processing services and foreign exchange services.
Among those proposals cleared include Rs 400 crore by Hinduja Energy (India) and Rs 852 crore by Ashwell Holding Co.
Also given the green signal are the proposals of Natixis Global Asset Management, France to invest Rs 300 crore in pension fund subsidiary and that of BNP Paribas SA Paris to invest Rs 225 crore to set up a wholly owned subsidiary to act as an investing company.
Two FDI proposals from Bangladesh have been cleared. They include Rs 4.59 crore by Southern CNG Automobiles India, Kolkata for induction of foreign equity by a company from Bangladesh and Rs 0.01 crore by Mr M. Rezaul Hassan and Ms Monnujan Nargis, Bangladesh to set up a wholly owned subsidiary to undertake software development services by citizens of Bangladesh.
The proposal of Cayman Islands-based NCBG Holdings to invest Rs 4.45 crore in the defence sector has also been cleared.
Among those deferred included the proposal by Dish TV India for transfer of shares to carry out the business of telecommunication equipment and provide management and marketing of ‘agrani', in the area of mobile satellite communications.