On Friday, the foreign investment promotion board has cleared 3 FDI proposals worth Rs 160 crore.

According to a Finance Ministry official, of the 24 proposals that were on the agenda of the FIPB, 11 fell under the automatic route on account of the new policy announced earlier this month.

On Friday, FIPB discussed the remaining 13 proposals and cleared three.

He further said that “Proposals of ScaleneWorks People Solutions LLP, GVK Biosciences and Singapore based GMS Pharma got cleared. They are worth Rs 160 crores”.

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