Press Esc to close
Tuesday 24 May 2016
News updated at 6:49 PM IST
Weather
Max: 34.1°C
Min : 22.7°C
In Bengaluru
Sunny day

FDI cap on defence production to stay at 26 percent

New Delhi, Aug 1, 2013, (IANS):
PTI file photo.

The cabinet Thursday decided that FDI cap in defence production will remain at 26 percent and proposals for higher foreign direct investment will be considered by the Cabinet Committee on Security (CCS) on a case to case basis.

An official release said that foreign direct investment in defence production above 26 percent will be decided on case to case basis if it ensures access to "state-of-art" technology.

"Up to 26 percent, no change i.e., through FIPB (foreign investment promotion board and CCEA (cabinet committee on economic affairs) if FDI exceeds Rs.1,200crore. Above 26 percent to CCS on case to case basis, which ensure access to modern and 'state-of-art' technology in the country," the release said.

The cabinet meeting was chaired by Prime Minister Manmohan Singh.

The government had last month cleared FDI in defence production beyond 26 percent on a case-to-case basis after approval of the CCS if the proposal involves state-of-the-art technology.  


Go to Top

Photo Gallery
Tamil Nadu Governor K Rosaiah after the oath of secrecy to Chief Minister  J Jayalalithaa at the ...

Tamil Nadu Governor K Rosaiah after the oath of secrecy to Chief Minister J Jayalalithaa at the ...

Wailing relatives paying floral tributes to the three policemen who were shot dead by militants ....

Wailing relatives paying floral tributes to the three policemen who were shot dead by militants ....

School students performing band show during passing out parade at the Sheeri Training Centre in  ...

School students performing band show during passing out parade at the Sheeri Training Centre in ...

Village women carry earthen pots & plastic containers to collect drinking water on Hot summer day...

Village women carry earthen pots & plastic containers to collect drinking water on Hot summer day...

BJP workers busy putting party posters in the streets of Guwahati on Monday, on the eve of oath ....

BJP workers busy putting party posters in the streets of Guwahati on Monday, on the eve of oath ....

Members of Communist Party of India (Marxist) staged a protest against BJP-RSS for the attack on ...

Members of Communist Party of India (Marxist) staged a protest against BJP-RSS for the attack on ...

Cyclists pedal during the 14th stage of the Giro D'Italia, Tour of Italy cycling race...

Cyclists pedal during the 14th stage of the Giro D'Italia, Tour of Italy cycling race...

Bayern's Robert Lewandowski holds up the trophy after the German soccer cup...

Bayern's Robert Lewandowski holds up the trophy after the German soccer cup...

A man walks on a road flooded with rain water at Khurai Lai Wangma, Imphal East on Sunday...

A man walks on a road flooded with rain water at Khurai Lai Wangma, Imphal East on Sunday...

Bollywood actor Shilpa Shetty with husband Raj Kundra celebrate their son Viaan's birthday...

Bollywood actor Shilpa Shetty with husband Raj Kundra celebrate their son Viaan's birthday...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523