New Delhi, Nov 05: Government today cleared 41 Foreign Direct Investment (FDI) proposals worth Rs 97 crore, including one from Dutch major Matthey Finance Bv for setting up a wholly-owned subsidiary to sell chemical processes, catalysts and bio-chemicals involving Rs 42 crore worth of FDI inflow. The proposals cleared include those for manufacturing vegetable oils and fats, consumer goods, wholesale trading of hi-tech engineering components, automobile components, information technology and software development, an official statement said here.

Singapore-based Scigen Ltd plans to invest Rs 12 crore in setting up a wholly-owned subsidiary in India to manufacture recombinant human insulin, human growth hormone etc. British major Spectris Plc also plans to set up a 100 per cent subsidiary here for wholesale trading of hi-tech precision control and measurement equipment and related components. This proposal envisages FDI worth Rs 13.32 crore.

Bureau Report