The Foreign Investment Promotion Board (FIPB) has rejected Mahindra and Mahindra’s proposal to form a defence joint venture with Israel’s Rafael Advanced Defence System even as it approved 12 other foreign direct investment proposals worth Rs 802 crore.
Among the key proposals that received the Government’s green signal is the Rs 300 crore proposal by Ratnakar Bank for foreign equity infusion. The proposal of Swedish furniture major IKEA has been recommended for consideration by the
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