The Department of Industrial Policy and Promotion (DIPP) has circulated a Discussion Paper suggesting raising FDI cap in Defence manufacturing sector to 74% or more from the existing 26%.
This issue is under inter ministerial consultations and a final decision will be taken by Government thereafter.
Government has a policy of moving towards greater self- reliance in Defence Production. To this end, it seeks to encourage indigenous research, development and design of equipment/weapons system within the country.
This information was given by Minister of State for Defence Shri MM Pallam Raju in a reply to Shri Manish Tewari and others in Lok Sabha today.
DM/NN
(Release ID :70623)
Press Information Bureau
