India clears foreign investment proposals of GSK, Novartis, Mylan

New Delhi: India has cleared a host of foreign investment proposals including Glaxo SmithKline, Novartis, Mylan, Catholic Syrian Bank and Bandhan Financial Services.

The Foreign Investment Promotion Board, an inter-ministerial body to vet foreign investment, cleared 23 proposals and deferred a decision on Reliance Globalcom and Sistema Shyam, according to a source.

The board on Monday considered 47 foreign investment proposals.