Swiss firm Nuance Group's plan to set up duty-free shops in airports and Nokia Siemens Networks' proposal to make investment for manufacturing telecom equipment were among the 18 applications involving a total of 64.66 crore (Rs 646.6 million) FDI inflow cleared by the government on Thursday.
While Nuance Group plans to invest Rs 25 crore (Rs 250 million) to manage duty-free shops in airports, Nokia Siemens Networks would make an investment of Rs 12.42 crore (Rs 124.2 million) in manufacturing and marketing of telecom equipment.
The proposals were cleared by Finance Minister P Chidambaram on the recommendations of Foreign Investment Promotion Board, an official statement said.
Nuance Group's proposal is to undertake operation and management of duty-free
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