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12 FDI proposals in India worth USD132m cleared: Govt

The Indian government said it has cleared 12 foreign investment proposals, including that of Swedish fashion major Hennes & Mauritz, totalling Rs 821.63 crore (USD131.8 million). "Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 13 November2013, the government of India has approved 12 proposals of Foreign Direct Investment (FDI) amounting to Rs 821.63 crore (USD131.8 million)," Finance Ministry said in a statement.