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India approves foreign investment worth 
1.68 B
Tuesday, 10 June 2003, 19:30 IST
The Indian government has cleared 18 foreign direct investment proposals worth 
1.68 billion, covering a wide spectrum of industrial sectors such as hotels and health tourism, design, engineering and finance.
1.68 billion, covering a wide spectrum of industrial sectors such as hotels and health tourism, design, engineering and finance.NEW DELHI: The government approved the U.S.-based Monsanto Company's proposal to increase its stake in the Indian subsidiary that manufactures agrochemicals from 72.15 percent to 75 percent with a fresh investment of 188.8 million.
The proposal of U.S.-based Jeffreys for equity participation with an investment of 73.9 million in hotel and health tourism services provider Loka Resorts Private Ltd. was also approved.
Bangkok Seeds Industry's proposal to invest 50 million in a wholly owned subsidiary for production and sale of high quality corn seeds has also been approved.
Source: IANS