Telecom tower firm Viom Networks’ Rs5,900 crore FDI proposal was among the 13 projects, totalling Rs6,500 crore, that the foreign investment promotion board (FIPB) cleared on Friday.
The board cleared the proposal of ATC Asia Pacific Pte to acquire majority stake in Viom Networks involving Rs5,900 crore.
Alstom Manufacturing India's proposal worth Rs400 crore and pharma firm Cipla’s proposal of Rs150 crore were cleared by the FIPB, sources said.
The FIPB had 26 FDI proposals on its agenda on Friday. The inter-ministerial panel FIPB, chaired by Economic Affairs Secretary Shaktikanta Das, can vet foreign direct investment proposals up to Rs5,000 crore.