RIL-BP's USD 7.2 bn deal-top-FDI into India
RIL-BP's USD 7.2 bn deal seen as biggest FDI into India.-Mukesh Ambani-led Reliance Industries' USD 7.2 billion deal with British giant BP Plc, cleared by the government on Friday, is seen as the biggest foreign direct investment into India.The mega transaction, announced in February, was cleared by the Cabinet Committee on Economic Affairs (CCEA).RIL-BP's USD 7.2 billion deal is seen as the largest Foreign Direct Investment (FDI) after Japanese pharma major Daiichi Sankyo's buyout of Ranbaxy Laboratories for USD 4.5 billion in 2008. Even though there are other bigger-size proposals, most of them are yet to materialise. For instance, South Korean group Posco's USD 12 billion investment for a steel plant in Orissa is yet to take off. Similar is the case with ArcelorMittal's around USD 30 billion investment plans across India. Another mega transaction worth USD 11 billion was between Vodafone and Hutchison-Essar. However, there was no direct participatio...