Processing .....please wait.. 
The article has been forwarded.... 
India approves 23 FDI proposals worth 
634.1 M
Wednesday, 07 May 2003, 19:30 IST
NEW DELHI: Japan's Honda Motor Company's plan to invest in an Indian scooter plant were among 23 foreign direct investment proposals worth 
634.1 million approved Tuesday by Finance Minister Jaswant Singh.
"The major investment proposals approved pertain to import, cash and carry wholesale trading in energy coal, manufacture of process control equipment measuring and checking instruments, instrumentation and systems," the finance ministry stated.
Honda got approval for investing 28 million in Delhi-based Variaset India Pvt Ltd that manufactures scooter and its components. No information has been furnished on the size of equity being taken by the Japanese multinational.
The largest investment proposal approved Tuesday was of the Netherlands-based BHP Billiton Marketing Holding BV for taking equity in New Delhi-based Energy Coal Imports Pvt Ltd.
The go-ahead will allow the Dutch company for cash and carry wholesale trading and import of coal in Maharashtra and Gujarat. The proposal will see an investment inflow of 500 million.
London-based A.B.M. Good, chairman of Good Relations, has been granted approval to raise the stake of the parent company in its Indian subsidiary from 51 percent to 99.56 percent with an investment of 7.8 million.
The equity stake being bought is currently held by travel major Cox and Kings India Pvt Ltd, which has decided to quit public relations consultancy business.
Despite uncertain global scenario, FDI flow into India has been on the rise. As against $3.9 billion in 2001-02, India witnessed 40 percent rise in foreign investments flow to $5.4 billion in 2002-03.
A large number of proposals approved Tuesday did not involve any fresh investment.
Source: IANS
634.1 million approved Tuesday by Finance Minister Jaswant Singh.
"The major investment proposals approved pertain to import, cash and carry wholesale trading in energy coal, manufacture of process control equipment measuring and checking instruments, instrumentation and systems," the finance ministry stated.
Honda got approval for investing 28 million in Delhi-based Variaset India Pvt Ltd that manufactures scooter and its components. No information has been furnished on the size of equity being taken by the Japanese multinational.
The largest investment proposal approved Tuesday was of the Netherlands-based BHP Billiton Marketing Holding BV for taking equity in New Delhi-based Energy Coal Imports Pvt Ltd.
The go-ahead will allow the Dutch company for cash and carry wholesale trading and import of coal in Maharashtra and Gujarat. The proposal will see an investment inflow of 500 million.
London-based A.B.M. Good, chairman of Good Relations, has been granted approval to raise the stake of the parent company in its Indian subsidiary from 51 percent to 99.56 percent with an investment of 7.8 million.
The equity stake being bought is currently held by travel major Cox and Kings India Pvt Ltd, which has decided to quit public relations consultancy business.
Despite uncertain global scenario, FDI flow into India has been on the rise. As against $3.9 billion in 2001-02, India witnessed 40 percent rise in foreign investments flow to $5.4 billion in 2002-03.
A large number of proposals approved Tuesday did not involve any fresh investment.
Source: IANS