The government has approved 22 foreign direct investment (FDI) proposals that valued Rs 541.25 crore. Yamaha and Nokia are also included in the list of cleared projects on the recommendation of FIPB.
Nokia is planning to set up at single-brand retail joint venture with HCL Infosystems to sell handsets and accessories. The JV would invest Rs 25 lakh in the retail business. Yamaha''s proposal to transfer its business operations to a new company in India, Yamaha Motor, was also given the FIPB nod.
Tikona Digital Networks will attract the maximum FDI of Rs 237.26 crore. However, Al Khaleej''s plans to set up a sugar refinery, have been rejected. FIPB postponed Vijay Mallya-promoted United Breweries request for a post-facto approval for issue of warrants to overseas investors.
Nokia is planning to set up at single-brand retail joint venture with HCL Infosystems to sell handsets and accessories. The JV would invest Rs 25 lakh in the retail business. Yamaha''s proposal to transfer its business operations to a new company in India, Yamaha Motor, was also given the FIPB nod.
Tikona Digital Networks will attract the maximum FDI of Rs 237.26 crore. However, Al Khaleej''s plans to set up a sugar refinery, have been rejected. FIPB postponed Vijay Mallya-promoted United Breweries request for a post-facto approval for issue of warrants to overseas investors.
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