Processing .....please wait.. 
The article has been forwarded.... 
Foreign investment worth $375 Mn approved
By siliconindia
|
Tuesday, 18 March 2008, 01:43 IST
New Delhi: Finance Minister P. Chidambaram has cleared foreign investment proposals worth 
15.26 billion ($375 million), which includes one from the Essar Group to invest in the non-banking financial services sector.
According to an official statement issued Friday, a proposal from Paris-based Societe Beaujjon to invest $1.91 billion ($47 million) in India's insurance sector is also among the 18 approved by the finance ministry.
The Foreign Investment Promotion Board (FIPB) had cleared these proposals March 7 and had forwarded them to the finance minister for a formal approval. The areas covered include chemicals, petrochemicals, aviation, financial Services, telecom and IT.
15.26 billion ($375 million), which includes one from the Essar Group to invest in the non-banking financial services sector.
According to an official statement issued Friday, a proposal from Paris-based Societe Beaujjon to invest $1.91 billion ($47 million) in India's insurance sector is also among the 18 approved by the finance ministry.
The Foreign Investment Promotion Board (FIPB) had cleared these proposals March 7 and had forwarded them to the finance minister for a formal approval. The areas covered include chemicals, petrochemicals, aviation, financial Services, telecom and IT.