No Raising of FDI in Defence in Near Future

No Raising of FDI in Defence in Near  Future The Union Minister for Commerce and Industry, Shri Anand Sharma in a written reply in the Lok Sabha on 22 April 2013 indicated that the limit on FDI in defence will be restricted to 26 percent and there is no proposal for raising the same. The statement read, “As per extant FDI policy, FDI upto 26% is permitted in the defence sector with prior Government approval.  FDI upto 100% is permitted in warehousing and food storage facilities on automatic route. There is no proposal under consideration to amend the policy”. Major foreign defence majors have indicated the necessity for raising the FDI in defence to enable them to invest in India’s growing defence industry with adequate controls over the same which are not env...
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