Govt okays multi-brand FDI, Tesco and Vodafone's Rs. 11k cr investment proposal.

The government cleared proposals by UK-based retail giant Tesco and telecom company Vodafone to together invest close to Rs. 11,000 crore in India, signalling the government's determination to press ahead with FDI even in contentious areas such as multi-brand retail. With clearance from the Foreign Investment Promotion Board in place, Tesco becomes the first MNC to enter multi-brand retail in India.

ET