NEW DELHI, Dec 16 (Reuters) - India has approved a $13.8-million proposal by tyre-maker Bridgestone Corp to help the Japanese company raise its holding in its Indian unit to 100 percent, a government statement said on Monday.
The proposal by Bridgestone, which makes pneumatic rubber tyres, was among 23 foreign direct investment (FDI) applications worth $19.1 million cleared by the Commerce and Industry Ministry.
The government also approved a 150-million-rupee ($3.11-million) proposal by Indonesian firm Pt Adijaya Guna to set up a wholly-owned unit for wholesale trading in equipment used in the poultry and dairy industry.
Other proposals cleared spanned a range of sectors from software development to power.
India has been aggressively seeking foreign investment in most sectors of its economy to boost the pace of growth of its gross domestic product.
Some years ago, the Indian government set an annual target of attracting $10 billion in FDI, but has only managed about $3.0-4.0 billion each year. ($1 = 48.17 rupees)