Press Esc to close
Monday 06 July 2015
News updated at 4:49 PM IST
Weather
Max: 33°C
Min : 20°C
In Bengaluru
Partially cloudy

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
'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Mobile app ' Namma Bellad' launched in Bengaluru...

Mobile app ' Namma Bellad' launched in Bengaluru...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

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