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Govt approves 17 FDI proposals worth Rs 4,551 crore

The government has cleared 17 FDI proposals that would help bring in Rs 4,551 crore, the largest chunk of which is likely to be invested by a Russian government agency in telecom company Sistema Shyam.



New Delhi: The government has cleared 17 FDI
proposals that would help bring in Rs 4,551 crore, the largest
chunk of which is likely to be invested by a Russian
government agency in telecom company Sistema Shyam.

A proposal by the Federal Agency for State Property
Management of the Russian Federation to pick up 20 per cent
stake in telecom service provider Sistema-Shyam for Rs 3,051
crore was cleared by the government.

The agency is an investment vehicle owned by the Russian
government.

A proposal by beverages and food major Pepsico for
further equity infusion into its Indian subsidiary has been
referred to the Cabinet Committee on Economic Affairs since it
would bring in Rs 928 crore.

Proposals of more than Rs 600 crore of FDI are referred to
the CCEA.

Other proposals cleared include Delhi-based Scorpios
Beverages` case that would contribute FDI of Rs 533.33 crore.

Another approved case relates to AG Mercantile that would
bring in Rs 329.53 crore.

The other large FDI proposal that has been approved is
from Telecom Investments India for Rs 380 crore.

The government deferred three proposals and rejected four.

PTI

From Zee News

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