Govt clears 26 FDI proposals worth Rs 1,042 cr

NEW DELHI: The government on Thursday approved 26 foreign direct investment proposals that will bring in Rs 1,042.91 crore into the country.

NEO Sports Broadcasting's plan to invest Rs 258.53 crore is among the proposals approved on the recommendation of Foreign Investment Promotion Board (FIPB).

A proposal from NSK Holdings to pump in Rs 214.49 crore to make downstream investment has been cleared, while Samvardhana Motherson Finance's plan to invest Rs 208.53 crore to increase equity participation also got approval.

John Deere Construction will bring in Rs 84 crore to set up a joint venture to carry out the manufacturing, marketing and distribution activities.