Defence FDI by Sept, says Centre

The commerce and industry  ministry hopes to get the defence ministry’s views on the FDI hike by July.

“Everything will be clear by September 2010 on FDI policy front as the government would have completed its next sectoral review, involving sectors such as defence, retail, telecom, agriculture etc... the proposals will acquire a shape of government policy after all stakeholders in the process have their consent in it,” said DIPP Director Deepak Narain.

“Till now the consultation paper remains in the proposal form of DIPP and reflects no government policy decision as regards to increased equity of overseas business in defence and retail,” Narain said at an event organised by industry lobby Assocham here.