Market Sources, 2008-07-07
by India Research Team
Delhi, India
FDI
28 FDI proposals worth INR 1,327.7 crore receives government approval
According to a Finance Ministry statement, based on the recommendations of Foreign Investment Promotion Board, in its meeting held on June 24, Finance Minister P Chidambaram has approved 28 FDI proposals.
Global retail major Marks & Spencer's proposal for 51 percent FDI in single brand retail business is among the 28 proposals totaling INR 1,327.7 crore that have been approved by the government, reports The Economic Times.
The other two retail proposals that received the nod are Pearle Europe for induction of 50 percent FDI for single brand retail trading and Giordano Fashions to establish a chain of single brand retail stores.
SEZ
Haryana Government gave its approval to 53 SEZ proposals
As reported in The Pioneer, Haryana Chief Minister Bhupinder Singh Hooda on July 4, 2008, said that the State Government has sanctioned 53 SEZ proposals as against 72 applications received.
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