Those awaiting news about an increase in India’s current 26% cap on foreign direct investment (FDI) in defense joint ventures are liable to be disappointed. R.K. Singh, secretary for defense production, said at the Eurosatory defense expo in Paris that the ministry favors continuing with the FDI limit. International investors have argued that the cap should be raised to 49% (Aerospace DAILY, May 11). India’s defense expenditure for 2010-11 is around $32 billion. A report says Indian ...
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