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This is an archive article published on February 11, 2010

Govt eases foreign investment rules

Earlier,the FIPB had power to approve foreign investments of up to Rs 6 billion.

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Foreign Investment promotion Board (FIPB) can approve investments of up to Rs 12 billion ($259 million),Home Minister P. Chidambaram said on Thursday after a cabinet meeting.

Earlier,the FIPB,an arm of the finance ministry,had power to approve foreign investments of up to Rs 6 billion.

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