100 Per Cent FDI in Defence Sector |
|
The Government vide Press Note 7 of 2014 Series dated 26.8.2014 has notified revised FDI Policy in defence sector, according to which FDI upto 49% is allowed in the sector through FIPB route and above 49% through approval of Cabinet Committee on Security (CCS) on case to case basis, wherever it is likely to result in access to modern and state-of-the-art technology in the country. After opening up of the defence industry sector for FDI in 2001, 33 FDI proposals / Joint Ventures have been approved in defence sector for manufacture of various defence equipment to Indian companies. This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri P Bhattacharya in Rajya Sabha today. |