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India approves foreign investments worth $68.5 mln

Reuters - Friday, August 15

NEW DELHI, Aug 14 - India on Thursday cleared 9 foreign direct investment proposals totalling 2.94 billion rupees , including those of JP Morgan <JPM.N> and Rio Tinto <RIO.L> <RIO.AX>.

JP Morgan has been permitted to invest almost a billion rupees, including in hotel and hospitality services.

India, however, deferred a proposal from Idea Cellular <IDEA.BO> arm Aditya Birla Telecom to raise its foreign investment holding to 74 percent.

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