FIPB to decide on 'hi-tech' aspect of FDI in defence output

Earlier, the government had relaxed the FDI cap in defence from the current 26 percent but only on a case-to-case basis. After the FIPB nod the proposal will need the consent of the Cabinet Committee on Security. The defence ministry is agreeable to FIPB's initial vetting.

August 27, 2013 / 12:34 IST

The Foreign Investment Promotion Board (FIPB) will decide on the foreign direct investment (FDI) proposals of over 26 percent in the defence sector. The FIPB will take a call on the hi-tech aspect in the FDI proposal.
Also Read: TRAI submits broadcast FDI reccos; suggests higher caps

Earlier, the government had relaxed the FDI cap in defence from the current 26 percent but only on a case-to-case basis. After the FIPB nod the proposal will need the consent of the Cabinet Committee on Security. The defence ministry is agreeable to FIPB's initial vetting.

first published: Aug 26, 2013 06:31 pm

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