Business | Updated May 13, 2006 at 10:08am IST

FDI everywhere: 26 proposals approved

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New Delhi: Government on Thursday approved 26 foreign investment proposals worth 2.83 billion rupees spanning wholesale trade, real estate, tea and financial sectors.

The applications cleared by Finance Minister Palaniappan Chidambaram included a plan by three Mauritius firms - MAVI Investment Fund, Lotus Global Investments and Invest-India Ltd. - to buy a 26.67 percent stake in tea grower Assam Company Ltd. for 1.88 billion rupees.

Japan's Itochu Corp. got approval to increase its stake in the Indian subsidiary to 100 percent for 445.4 million rupees.

British property developer Goldshield Group Plc got the green signal to set up a holding company with an initial investment of 445.4 million rupees.

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