Press Esc to close
Saturday 28 February 2015
News updated at 2:30 AM IST
Weather
Max: 31.7°C
Min : 16.9°C
In Bengaluru
clear sky

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
A performance by the Gurkha Band of the British Army at the Queen's Birthday Party

A performance by the Gurkha Band of the British Army at the Queen's Birthday Party

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

Railway Minister Suresh Prabhu in the Rajya Sabha during Budget Session

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

RJD chief Lalu Prasad Yadav performs ritual at the marriage of his daughter Raj Laxmi with Tej Prat

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Activists shout patriotic slogans as they pay tributes to the freedom-fighter Chandrashekhar Azad

Foreign delegates pose for a group photo at Parliament House

Foreign delegates pose for a group photo at Parliament House

Swine Flu vaccination program at a school in Bikaner

Swine Flu vaccination program at a school in Bikaner

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Social Activist Anna Hazare addresses farmers protesting against the Land Bill in Meerut

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Crime Branch seizes fake currency worth more than Rs 2.5 Lakhs

Memebers in the Lok Sabha during the Budget session

Memebers in the Lok Sabha during the Budget session

Students march and light flares during the second day of student strike in Madrid, Spain...

Students march and light flares during the second day of student strike in Madrid, Spain...

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