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India agrees to 100% FDI in defence via govt approval

India has permitted foreign companies to own as much as 100% equity in the local defence sector for modern and state of the art Technology through the government approval route. Till now the Foreign Direct Investment (FDI) regime permits foreign companies to own 49% in Indian units through the automatic approval route. FDI limit for defence sector has also been made applicable to manufacturing of small arms and ammunitions covered under Arms Act 1959.

Source:http://www.livemint.com/Politics/25SUpO8jkE9v9jjAQv72LL/India-allows-100-FDI-in-defence-via-govt-approval.html

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