Other major proposals cleared by commerce and industry minister Murasoli Maran include Australian beer major Fosters India's application for investing Rs 35 crore in the country. The government has also granted it permission to issue redeemable non-cumulative preference share.Tata Asset management has also been granted clearance for investing Rs 31.18 crore for carrying out financial advisory services.

Lufthansa Cargo India has been given the approval for increasing its stake from 95 per cent to 100 per cent, involving an FDI inflow of Rs 1.25 crore.Dresdner Kleinworth Benson securities India proposal for issuing non-convertible redeemable preference (NCRPS) and for expansion of activities including investments of Rs 40 crore has also been granted clearance.

FIPB also cleared the Swedish match box maker Wimco's proposal to issue redeemable cumulative preference shares to the tune of Rs 93 crore.Another Swedish company Sandvik Ab, manufacturer of hot extruded seamless stainless steel, has been given permission to increase its equity from 51 per cent to 100 per cent with an investment of Rs 25 croreThe board also cleared a proposal of SRF for manufacture and sale of nylon industrial yarn/cord/fabrics, industrial fabrics and leather auxiliaries. This proposal however does not involve fresh inflow of foreign investment.The Mr Maran has cleared 34 foreign direct investment (FDI) proposals worth Rs 713 crore on Friday which covered various sectors including chemicals, consumer and confectionery items, food and beverages, telecommunication and software development.

The 34 FDI proposals also included, Energizer India's proposal to increase its foreign equity from 51 per cent to 100 per cent.

While K&B India has been granted permission for setting up a 100 per cent subsidiary for processing, blending and wholesale trading of tea including manufacture of instant tea another company, F&B Marketing is also granted permission to set up a 100 per cent subsidiary in food and beverage segment.Approval is also given to Sierra Optima, which provides value added services, for preferential issue of warrants worth Rs 6.71 crore.