 "fdi")
A study, released by Assocham on Wednesday, recommends that foreign defence firms be allowed a majority stake in joint ventures (JVs) that they set up in India.
In 2016, the prevailing 26 per cent cap for foreign direct investment (FDI) in defence was raised to 49 per cent through the automatic route. Further, FDI above 49 per cent became permissible through case-by-case government sanction “wherever it is likely to result in access to modern technology or for other reasons to be recorded.”
That has failed to spur investment. The defence sector has received a total of $0.18 million (Rs 1.26 crore) in
