Wednesday, January 07, 2009

Mahindra Mahindra And BAE Systems Joint Venture Approved By India

Mahindra & Mahindra And BAE Systems Joint Venture Approved By India
(NSI News Source Info) NEW DELHI - January 7, 2009: India has approved 34 foreign direct investment proposals worth 16.15 billion rupees ($332.3 million), including that of vehicle maker Mahindra and Mahindra Ltd, the finance ministry said on Wednesday.
The government, however, again deferred a proposal by News Corp-controlled Dow Jones Co to publish facsimile editions of newspapers, including the Wall Street Journal, in the country, the ministry said in a statement.
Mahindra's proposal to set up a joint venture for land defence systems, with foreign investment of 289.4 million rupees was approved, it said.
The Indian firm and BAE Systems have a joint venture to build such equipment in the country.

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