Friday, July 15, 2016

Defence: greater clarity on 'control & ownership'

Foreign investment beyond 49 per cent and up to 100% has now been permitted through the government approval route, in cases resulting in access to modern technology in the country or for other reasons to be recorded. The condition of access to 'state-of-art' technology in the country has been done away with. The FDI limit for defence sector has also been made applicable to the manufacturing of small arms and ammunitions, covered under Arms Act, 1959. No technology desclosure to any third party can be ensured in such cases.


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