FDI in Defence Sector

Why is it in news?
  • Government is revising FDI norms for defence sector.
Details:
  • The government is going to come out with a decision on 74% Foreign Direct Investment (FDI) in defense.
  • The second draft of the Defence Procurement Procedure (DPP) 2020, now renamed as the Defence Acquisition Procedure (DAP) 2020, was put out in public domain for comments from stakeholders and public.
  • The government announced a series of measures to promote domestic defence manufacturing which include a negative import list, separate budgetary allocation for domestic procurements, indigenisation of spares and components and raising the FDI cap through automatic route from 49% to 74%.
 
 
 
 
 
Posted by Jawwad Kazi on 29th Jul 2020
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