Minister for commerce and industry Murasoli Maran today cleared 50 foreign direct investment (FDI) proposals worth Rs 79 crore spread across various sectors. The proposals were submitted by the Foreign Investment Promotion Board (FIPB) to the ministry, a government release said. The sectors in which approvals have been accorded include chemicals and petrochemicals, cargo handling, vegetable oil and protein concentrates, leather care products, etc.
The investment proposals include the Rs 20-crore proposal from the US-based Sara Lee for manufacture of shoe polish, domestic hygiene products and leather-care products. The company proposes to increase its equity to 100 per cent in Chennai-based Saralee TTK Ltd from the current 51 per cent.
The other clearances include Sweden-based AB Electrolux
