New Delhi, Sept. 18 -- The government has allowed Foreign Direct Investment of up to 74 per cent for companies seeking new industrial licenses under automatic route in the Defence sector.
Commerce and Industry Minister Piyush Goyal welcomed the government decision and said the step will enhance Ease of Doing Business and contribute to growth of investment, income & employment.
''Welcome PM Narendra Modi ji's decision to amend FDI policy in Defence Sector. Now, FDI is allowed upto 74 per cent through automatic route & beyond 74 per cent to be permitted through Govt route
This will enhance Ease of Doing Business & contribute to growth of investment, income & employment,'' he said in his tweet on Friday.
He said Foreign investments in defen...