While inaugurating the 9th edition of Defexpo India at Goa, India's Defence Minister Manohar Parrikar has said that, while Foreign Direct Investment (FDI) in Defence Sector is capped at 49%, cases for higher FDI can be considered on case to case basis.
At the outset Parrikar also announced that the Defence Procurement Procedure-2016 (DPP-2016) has been uploaded on the website of Ministry of Defence, commenting that it will provide a push to the ‘Make in India' campaign.
He said the Government has been proactive in its ‘Make in India' initiative and desires to also include ‘Startup India' which will find opportunities in Defence sector. The Defence Minister stated that the Government has tweaked the policies to address the concerns of defence manufacturers and suppliers and enhanced transparency.
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