Interpreting FDI Liberalisation in Defence Sector

Interpreting FDI Liberalisation in Defence Sector In a much heralded move the Modi Government as the present BJP led NDA government as the Centre is popularly known has liberalised foreign investment in the defence sector allowing 100 percent inflow and removed restrictive clause of, “access to state of the art technology”. The requirement of induction of, “modern technology,” will however continue though flexibility is indicated by the clause, “or for other reasons to be recorded”. Foreign investment may include FDI or Foreign Direct Investment and FPI or Foreign Portfolio Investment. The realisation that no country or company will part with state of the art technology in a 100% equity enterprise is pragmatic and has come not too soon. The term, &ldq...
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