how did liberalisation of FDI in automatic marble industry
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The country allows up to 49% foreign direct investment (FDI) in defence in the automatic route and it needs government approval to go beyond the cap.
By Deepshikha Sikarwar, ET Bureau | Updated: Oct 24, 2019, 10.09 AM IST
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The government may also ease the export policy for foreign defence manufacturers looking to set up base here.
NEW DELHI: India plans to widen its doors to foreign funds in the defence sector to boost local production of armaments and cut down on imports. The department for promotion of industry and internal trade (DPIIT) and the defence ministry are in talks to ease many conditions to encourage foreign investors to set up shop here. It may also restructure the offset and export policies. “Discussions are on over further liberalisation,” a government official, privy to the deliberations, confirmed to ET.