FIPB clears 3 FDI proposals worth Rs 35 lakh

The Foreign Investment Promotion Board (FIPB) today approved three FDI proposals entailing overseas investment of about Rs 35 lakh, but deferred a decision on seven proposals, including that of BNP Paribas Asset Management India pvt ltd and Sharekhan ltd.

Bugworks Research India's foreign investment proposal worth Rs 35 lakh was cleared by the board, the Finance Ministry said in a statement.

The board, headed by Economic Affairs Secretary Shaktikanta Das, also cleared investment proposals of Willmar Schwabe lndia Pvt Ltd and SAET India Pvt Ltd.

The seven proposals which were defered included that of Sharekhan, BNP Paribas Asset Management India, Entrepreneur India Media, Bashundhara Paper Mills India, Whizdm Innovations and Harbour Services.