The Foreign Investment Promotion Board (FIPB), the apex body for clearing foreign investment plans, on Friday cleared three FDI proposals worth Rs. 106 in the single brand retail space.

The FIPB gave a go ahead to investment proposals of British footwear retailer Pavers England, Italian jeweller brand Damiani, and US-based clothing company Brooks Brothers. All these foreign companies will not be able to set up their stores in India under the single brand retail policy.

The FIPB also permitted construction & engineering giant Larsen & Toubro (L&T) to introduce foreign investment in its defence production business.

All the above-mentioned proposals were approved at its meeting chaired Department of Economic Affairs Secretary Arvind Mayaram.

Pavers England, the first foreign company to get approval under the new regime for single-brand retail sector, has plans to set up 100 per cent-owned subsidiary. Currently, Pavers England sells footwear through its Chennai-based master franchisee Triton Retail, and also via retail outlets of Reliance Footprint, Shoppers Stop, Westside and Lifestyle.

Brooks Brothers will invest 6.22 crore in its recently announced 51:49 joint venture with Reliance Brands, while Damiani will set up a 51:49 joint venture with Mehta's Pvt. Ltd.