The proposals of consumer electronic firms Hitachi and Samsung Electronics to raise their shareholding in their respective joint ventures in India, are among the 70 FDI proposals envisaging investments worth Rs 95 crore cleared by government today.
Japanese electronics firm Hitachi is investing Rs 20 crore in the capital base of its Indian joint venture Amtrex Hitachi to raise its stake to 74 per cent. Hitachi, incidentally, had permission to take a 74 per cent stake in the JV.
Meanwhile, Korean electronics giant Samsung has received approval to enhance its equity in Samsung Electronics India to 100 per cent by buying out the Dhoots of Videocon. Samsung will invest Rs 15.68 crore in the equity base, apart from the premium to be paid to the Dhoots.
The Canada-based NSI Global Inc's proposal to increase its equity in its Indian arm to 49 per cent will result in Rs 22.27 crore inflow.
