MUMBAI: Twinstar Technologies is among the 15 proposals worth Rs 12,200 crore on Monday cleared for foreign direct investments into India. Twinstar proposal will however also require the approval of the Cabinet Committee of Economic Affairs (CCEA).

Twinstar specialises in Optical Communications Passive Components for telecommunication and focuses on providing low-cost and high quality products for the rapidly developing FTTH market.

The inter-ministerial body Foreign Investment Promotion Board (FIPB), led by the economic affairs secretary Shaktikanta Das, cleared the 15 of the 24 proposals it discussed, while deferring six and rejecting three proposals. Proposals which got the green signal primarily included Twinstar's Rs 9,000-crore proposal, Apollo Hospitals' Rs 750 crore proposal, and a proposal of Vodafone India, an official from the finance ministry said.

Proposals of Hindustan Aeronautics and Dr Reddy's were also approved.

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