15 tie-ups, franchises approved

NEW DELHI: Union commerce and industry minister Arun Jaitley today approved 15 cases of foreign technology collaboration / franchise agreements based on the recommendations of the project approval board (PAB).
These cases include the proposed collaboration between Toyota Kirloskar Motor and Toyota Motor Corporation of Japan for the manufacture of new multi-purpose vehicles in India.
This will add to the existing product line-up of Toyota in the country, a statement from the department of industrial policy and promotion (DIPP), said.
Another proposal for technical collaboration cleared today was that of Piaggio Vehicles, in collaboration with Piaggio & C. SPA of Italy for manufacturing LPG/CNG-powered three-wheel vehicle.
The minister also cleared seven proposal for industrial licences in areas such as defence, biotechnology and chemicals, the release issued by the department of industrial policy and promotion said here on Monday.