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The Foreign Investment Promotion Board (FIPB) has cleared nine proposals including that of Cadila Healthcare and Volvo Assets Finance India.
The government has made changes in foreign direct investment (FDI) policy last month following that Cadila Healthcare was reconsidered by the FIPB.
Cadila proposal was cleared and recommended to get Cabinet Committee on Economic Affairs (CCEA) approval as the investment of was over Rs 3,000 crore.
Now, as per the revised norms, the FIPB could give clearance to FDI proposals up to worth Rs 5,000 crore and on account of that the Cadila Healthcare proposal again came up for consideration before the FIPB.
