Domestic defense industries want New Delhi to keep foreign direct investment low
As the government considers increasing the foreign direct investment (FDI) cap in the defense manufacturing sector to 74% from the existing 26%, Indian industry has vociferously opposed the proposal. Opportunities arising from growing obsolescence of military hardware, limited indigenous production, domination by government-backed manufacturers and India’s growing defense capital plan of $12 billion up to 2012, have led private industry to call for leveling of the playing field by ...
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