Six major western industry associations have written to the Indian Ministry of Defense asking for measures to ease their prospects for commerce in defense equipment, including elimination of the ceiling on Foreign Direct Investment as well as capping financial penalties.
Tag: Ministry of Commerce
Max. 49% FDI in defense: FICCI
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•The Indian industry association, FICCI has argued for limiting FDI in the Indian defense sector to, at most, 49 per cent, following CII, which had submitted similar views last May.