The Department of Industrial Policy and Promotion, DIPP has cleared 33 defence proposals which were pending for last several years. Out of these proposals 19 are related to foreign direct investment ,FDI to boost the manufacturing in 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.
News On AIR | October 7, 2014 7:43 PM
DIPP clears 33 pending defence deals