FDI beyond 26pc in defence sector on case-by-case basis: Jaitley

Tags: News
Foreign Direct Investment beyond 26 per cent in defence sector may be permitted on a case-to-case basis in areas that can result in access to modern and state-of-the art technology, the government today said.

"As per the current FDI policy, up to 26 per cent FDI is permissible in the defence sector subject to licensing through government route.

"However, wherever FDI beyond 26 per cent is likely to result in access to modern and state-of-the art technology in the country, decisions can be taken to allow higher FDI on a case-to-case basis with the approval of Cabinet Committee on Security," Defence Minister Arun Jaitley said in a reply to a question in the Rajya Sabha.

He added that 28 private sector companies are having FDI varying up to 26 per cent.

EDITORIAL OF THE DAY

  • Nothing short of a uniform civil code will work in India

    When the Jamiat-Ulama-I-Hind (JUH), a powerful body of muslim clerics dedicated to address the aspirations of the community, turns to quote the religi

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

Tushar Gandhi

A democracy must stand up for its people

We are the world’s most populous dem­ocracy, but behave in ...

Purnendu Ghosh

A curious and an innovative mind

Curiosity is hard-wired into our psyche. We all recognise that ...

Shona Adhikari

A good time for European art auctions

This week, we bring you interesting art news and the ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture