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74% FDI In Defence Is Here, But It's Hardly Automatic
74% FDI In Defence Is Here, But It's Hardly Automatic
09 Dec 2020, 12:38 PM IST
India has amended the Foreign Exchange Non Debt Instrument Rules, 2019 paving the way for 74% foreign direct investment in the defence sector through the automatic route—without prior approval of the government. Yet, there’s nothing automatic about it.The new limit was notified earlier by the Department of Promotion of Industry and Internal Trade or DPIIT. The changes in foreign exchange rules was notified on Tuesday (Nov. 8). But th...
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