India on Wednesday cleared 35 foreign investment proposals worth $45 million, including projects by major firms such as Gaz de France, an official statement said.
The projects were given the go-ahead by Commerce and Industry Minister Murasoli Maran at the recommendation of the Foreign Investment Promotion Board.
Gaz de France International had filed a proposal to transport natural gas to India in a project worth 12.6 million dollars.
Indian firm Birla Home Finance Ltd. was allowed to offer housing loans to expatriate Indians, for which an investment of 5.7 million dollars with foreign equity of five percent was approved.
Citibank Overseas Investment Corp. Ltd. was given permission to set up a financial portal while US-based Leinco Technologies was allowed to manufacture monoclonal antibodies and related products.
The other approved projects were in the information technology, agriculture, consumer goods and bio-technology sectors.—(AFP)
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