New Delhi: The proposals of consumer giants Hitachi and Samsung Electronics to enhance equity in their Indian venture were among the 70 FDI (Foreign Direct Investment) proposals worth Rs 95 crore cleared by government on October 22.

Japan-based Hitachi Ltd's Rs 20 crore proposal involves increasing its equity in the joint venture with the Indian partner Amtrex Appliances Ltd to upto 74 per cent while the Korea-based Samsung got clearance for enhancing its equity in its India arm to 100 per cent.

Samsung's proposal will lead to an FDI inflow of Rs 15.68 crore, an official release said in New Delhi.

Canada-based NSI Global Inc's proposal to increase its equity in its Indian arm to 49 per cent will result in Rs 22.27 crore inflow.

The major investment proposals cleared by the government on the recommendation of the Foreign Investment Promotion Board involve sectors such as consumer goods manufacturing, automobile components, engineering accessories, tourism and software.

As many as 21 proposals including that of Honda Motor Co Ltd and M/S Reuters Singapore Pte Ltd related to amendment in the existing Foreign Currency approval vis-a-vis their Indian joint venture were cleared and did not involve any fresh inflow.

PTI