FDI worth Rs 101cr approved

new delhi: government on wednesday approved 21 foreign direct investment proposals worth rs 101 crore, including a rs 85.83 crore proposal of dutch company organon for manufacture and marketing of human pharmaceutical products. the proposal of the dutch company also includes increase in the foreign equity from 50.43 per cent to 100 per cent. the 21 proposals pertaining to manufacture of pharmaceutical products, software development, transport and port sector were approved by the commerce and industry minister murasoli maran on the basis of recommendations made by foreign investment promotion board, an official release said. the rs 5.20 crore proposal of japanese company toshiba corporation to set up a 100 per cent owned subsidiary for marketing support and consultancy services was also cleared. a rs 4.41 crore proposal of p&0 ports india for conversion of loan into equity as well as a rs 2.77 crore proposal of emery worldwide (india) to increase foreign equity from 80 to 100 per cent for multi-modal transport business were also cleared.