The Government has cleared 17 FDI proposals worth Rs 569.41 crore, the bulk of which will go to Hindustan Media Ventures Ltd and Turmeric Vision Pvt Ltd.
While the proposal of Hindustan Media envisages foreign investment of Rs 350 crore, another from Turmeric Vision entails FDI of Rs 122.10 crore, the Finance Ministry said in a statement. It said the decisions are based on the recommendations of the Foreign Investment Promotion Board (FIPB) at a meeting on May 31, 2010.
FIPB has deferred 20 proposals and rejected nine. Among the deferred proposals were FDI requests from Zee Entertainment and Jagran Media.