FDI in Defence Sector
· Foreign investment up to 49% will be under automatic route.
· Portfolio investment and investment by FVCIs will be allowed up to permitted automatic route level of 49%.
· Proposals for foreign investment in excess of 49% will be considered by Foreign Investment Promotion Board (FIPB).
· In case of infusion of fresh foreign investment within the permitted automatic route level, resulting in change in the ownership pattern or transfer of stake by existing investor to new foreign investor, Government approval will be required.