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Govt clears 32 FDI proposals worth
Rs 4.77 billion

The government on Wednesday approved 32 foreign direct investment proposals worth Rs 4.77 billion, including Carrier Aircon's proposal of Rs 1.148 billion, for infusing 100 per cent foreign equity.

The FDI proposals cleared by Commerce Minister Murasoli Maran comprised manufacture of drugs and pharmaceuticals, mineral exploration, development of urban infrastructure and manufacture of electrical appliances, an official release said.

Among the pharmaceutical proposals are those of Eli-Lilly, Ranbaxy and Knoll International Ltd without any fresh inflows.

Paras Pharmaceuticals has been allowed to bring in 15.38 per cent foreign investment at Rs 468 million, it said.

The highest investment allowed among the proposals was that of Poistra Sez Estates, which is into the development of urban infrastructure facilities, for its 49 per cent foreign investment at Rs 2.35 million, it said.

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