Live
- Anakapalli zone in focus for development
- 28 youths given compationate appointments in Singareni
- First batch in TASK Centre from November 4: Collector
- Spectacular Drone Light Show thrills viewers
- Asst Prof Hari Krishna in MLC poll fray
- TTD JEO inspects children’s hospital works in Tirupati
- HM Amit Shah’s birthday: BJP activists organise food distribution
- Second edition of Japan Month at IITH wraps up successfully
- HYDRA lens on city lakes, takes up cleanup process
- City techie appointed as VC of Cong Data & Tech Dept
Just In
The Union Government has approved the amendment in Foreign Direct Investment Policy in the Defence Sector.
The Union Government has approved the amendment in Foreign Direct Investment Policy in the Defence Sector. Commerce and Industry Minister Piyush Goyal has said that for new licensees, FDI is allowed up to 74 per cent through automatic route and beyond 74 per cent to be permitted through the government route.
The decision to ease the FDI norms will push self-reliance in production and keep national interests and security paramount, Commerce and Industry Minister Piyush Goyal.
The Minister in a tweet today said, "Welcome PM @NarendraModi Ji's decision to amend FDI policy in Defence Sector. Now, FDI is allowed up to 74% through automatic route & beyond 74% to be permitted through Govt route. This will enhance Ease of Doing Business & contribute to the growth of investment, income & employment." He added, "Foreign investments in defence sector shall be subject to scrutiny on grounds of National Security. In line with our collective vision of Aatmanirbhar Bharat, amendments will enhance self-reliance in defence production, while keeping national interests & security paramount."
Welcome PM @NarendraModi ji's decision to amend FDI policy in Defence Sector.
— Piyush Goyal (@PiyushGoyal) September 18, 2020
Now, FDI is allowed upto 74% through automatic route & beyond 74% to be permitted through Govt route
This will enhance Ease of Doing Business & contribute to growth of investment, income & employment. pic.twitter.com/Ltstqi6Fbg
For existing licensees, infusion of fresh foreign investment up to 49 per cent can be done by making a declaration of change or transfer within 30 days.
Mr Goyal said this will enhance ease of doing business and contribute to the growth of investment, income and employment. He said foreign investments in the defence sector shall be subject to scrutiny on grounds of national security.
The Minister said, in line with our collective vision of Atmanirbhar Bharat, these amendments will enhance self-reliance in defence production while keeping national interests and security paramount.
Amendment in FDI Policy in the defence sector will boost 'Make in India' programme & armed forces will get much needed technological advancement.
© 2024 Hyderabad Media House Limited/The Hans India. All rights reserved. Powered by hocalwire.com