India Business News: Read the latest news on the 100% foreign direct investment (FDI) in the space sector and its impact on India's space capabilities. Learn more about the game-changing decision and its potential for global collaboration and innovation in the private sector.
Sources said the FDI proposal, valued at under ₹500 crore, was cleared last month. India currently allows up to 74% FDI in the defence sector under the automatic route. Beyond that, clearances can be obtained on a case-by-case basis. While clearance rules were relaxed in 2015, no foreign company had, until now, been able to get permission for 100% FDI in defence.
By seeking to move in with 100 percent ownership in certain areas, the Swedish defence manufacturer is looking to deepen its roots in the Indian defence industry.
Govt Notifies 100% FDI In Telecom Sector Via Automatic Route swarajyamag.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from swarajyamag.com Daily Mail and Mail on Sunday newspapers.