The Union government on June 18 stated that it has cleared 16 foreign direct investment (FDI) proposals worth Rs 1,646.87 crore. Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on May 10, 2013, the government has approved the 16 proposals of FDI. The largest money flow of Rs.961.74 crore is related to acquisition of stakes by foreign promoters in Chennai-based Vijay Television.
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