The Government has cleared 21 foreign direct investment -FDI proposals worth of 2,410 crore rupees including eight from the pharmaceutical sector worth over 1842 crore rupees. The Finance minsitry in its statement has said that thses proposals were cleared on the bais of recommndations of the Foreign Investment Promotion Board (FIPB). It said that the eight pharma proposals cleared by the board are subject to certain conditions.

These pharma companies would be required to maintain for the next five years the quantitative level of National List of Essential Medicines- NLEM drugs production annually at the time of induction of foreign investment. In telecom sector, 500 crore rupees FDI proposals of Sterlite Networks Limited, Dadar and Nagar Haveli has also been approved to engage in additional activities.