Defence Ministry asked for a “final view'' on FDI

• The Commerce and Industry Ministry is preparing to move a Cabinet note on allowing 49 per cent Foreign Direct Investment (FDI) in defence sector.
• The Ministry of Commerce and Industry had allowed private industry into defence production in 2001, subject to government licensing and a 26 per cent FDI cap.
• In the Defence Procurement Procedure of 2008, the Defence Ministry had permitted a 49 per cent FDI on a case-by-case basis.