Defence FDI Through Automatic Route may be Hiked to 74%

India plans to widen its doors to foreign funds in the defence sector to boost local production of armaments and cut down on imports. The department for promotion of industry and internal trade (DPIIT) and the defence ministry are in talks to ease many conditions to encourage foreign investors to set up shop here. It may also restructure the offset and export policies. “Discussions are on over further liberalisation,” a government official, privy to the deliberations, confirmed to ET. Read More…