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India clears 41 foreign investment proposals
Tuesday, 10 August 2004, 19:30 IST
NEW DELHI: Finance Minister P. Chidambaram Monday approved 41 cases of foreign direct investment totalling 
2.65 billion, including one from AAPC (Thailand) Ltd. for a joint venture in the travel and tourism industry.
Major investment proposals approved Monday pertain to sectors like petrochemicals, chemicals, bulk imports with bonded warehouse sales, health, consultancy, tourism and software development, an official statement said.
These proposals had been recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held July 30.
Earlier, Chidambaram had approved the proposal of Xerox Modicorp for pumping 959 million in its Indian arm that manufactures xerographic equipment and systems.
AAPC, the statement said, wants to set up a joint venture with a foreign investment inflow of 1.34 billion to acquire property rights in hotel sites in India, Nepal, Sri Lanka and Bangladesh and other tourism-related activities.
Another proposal from the Thai company seeks to invest 144 million to operate and manage hotels in India, Nepal, Sri Lanka and Bangladesh under various Accor brands.
In its application, New York-based Monster Worldwide Inc. said it wanted to invest 140 million in software development, data processing projects, consulting and contracting services and online recruitment.
Source: IANS
2.65 billion, including one from AAPC (Thailand) Ltd. for a joint venture in the travel and tourism industry.
Major investment proposals approved Monday pertain to sectors like petrochemicals, chemicals, bulk imports with bonded warehouse sales, health, consultancy, tourism and software development, an official statement said.
These proposals had been recommended by the Foreign Investment Promotion Board (FIPB) in its meeting held July 30.
Earlier, Chidambaram had approved the proposal of Xerox Modicorp for pumping 959 million in its Indian arm that manufactures xerographic equipment and systems.
AAPC, the statement said, wants to set up a joint venture with a foreign investment inflow of 1.34 billion to acquire property rights in hotel sites in India, Nepal, Sri Lanka and Bangladesh and other tourism-related activities.
Another proposal from the Thai company seeks to invest 144 million to operate and manage hotels in India, Nepal, Sri Lanka and Bangladesh under various Accor brands.
In its application, New York-based Monster Worldwide Inc. said it wanted to invest 140 million in software development, data processing projects, consulting and contracting services and online recruitment.
Source: IANS