Hailing the decision of Narendra Modi government to permit 100 per cent Foreign Direct Investment (FDI) in defence sector, Jammu and Kashmir BJP today said the increase has been necessitated due to "poor response of foreign investors so far".
"We hail the decision Modi government to permit 100 per cent FDI in defence sector. The increase from 49 percent to 100 per cent has been necessitated due to poor response of foreign investors so far," BJP state spokesperson Brig Anil Gupta said.
"It will give boost to the domestic defence industry, which is highly capital-intensive and save valuable foreign exchange since India imports 70 per cent of its defence equipment," he said.
