DPIIT to Soon Approach Cabinet for 74 pc FDI Through Auto Route in Defence :Sources

The DPIIT would soon approach the Union Cabinet to seek approval for relaxing norms to allow up to 74 per cent foreign direct investment (FDI) in defence manufacturing under the automatic route, with a view to attract overseas players in the sector, sources said. They said the Department for Promotion of Industry and Internal Trade (DPIIT) has discussed the matter with the defence ministry.Read More…