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This is an archive article published on March 4, 2010

Govt okays FDI plan of India Infra Development Fund

The Government cleared a proposal by India Infrastructure Development Fund,Mauritius for international investment in its India fund,which is likely to bring in Rs 750 crore FDI.

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The Government on Thursday cleared a proposal by India Infrastructure Development Fund (IIDFL),Mauritius for international investment in its India fund,which is likely to bring in Rs 750 crore foreign direct investment (FDI).

“The Cabinet Committee on Economic Affairs (CCEA) on Thursday gave its approval as recommended by the Foreign Investment Promotion Board (FIPB),to the proposal of IIDFL Mauritius to seek contributions from international investors and invest the same in the IIDF (fund) by subscribing to the units of the fund under the FDI route,” an official statement said on Thursday.

The approval,as recommended by the FIPB would result in FDI of around Rs 750 crore in the country,it said.

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