October 8, 2014 7:30 AM

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DIPP clears 19 defence manufacturing proposals

The Department of Industrial Policy and Promotion, DIPP has cleared 33 defence proposals which were pending for last several years.

Of the 33 proposals, 19 are related to the foreign direct investment to boost the manufacturing in the Defence sector.

The decision was taken after the simplification of the FDI policy which has raised the FDI cap in defence from 26 to 49 percent.

Minister of Commerce, in its press release, said that the decision will give a major impetus to 'Make In India' programme initiated by the government to boost domestic manufacturing

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