The Union Government on Wednesday approved seven proposals of foreign direct investment (FDI) amounting Rs 9.81 billion based on the recommendations of Foreign Investment Promotion Board (FIPB) in its 220th meeting held on Jul. 3, 2015.

The FDI proposals, which got the government's approval, were Hathway Cable and Datacom (Rs 9.63 billion), Celon Laboratories (Rs 160 million), Keppel Puravankara  Development, Cheetah Communications  (Rs 21.5 million), Destimoney Enterprises, Kotak Mahindra Bank. On the other hand, Lalea Trading, Cyprus sought approval for FDI outflow of Rs 232.75 million.

However, the government has deferred 6 proposals. Major proposals which got deferred are from DEN Networks, Reliance Globalcom, O-zone Networks, Chorus Call Conferencing Services India, Sistema Shyam TelServices and Indian Rotorcraft.