India clears 48 foreign investment proposals

Friday, 01 October 2004, 19:30 IST
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NEW DELHI: India has approved 48 foreign direct investment proposals amounting to 3.05 billion, said an official statement Thursday. The proposals, cleared by Finance Minister P. Chidambaram, relate to agriculture and cooperation, chemicals and petrochemicals, commerce, health, heavy industry, industrial policy and promotion and the IT sector. The proposals also included investments in sectors like petroleum and natural gas, posts, road transport and highways, shipping, telecommunications, urban employment and poverty alleviation, among others. The major investment proposals pertain to sectors like chemicals and petrochemicals, import and wholesale trading, health, industry, IT, telecommunications and integrated township.
Source: IANS