Govt panel for hiking FDI limits in defence, retail, telecom
A government panel today proposed raising foreign investment limits in sectors like defence, multi-brand retail and telecommunications, to spur investment in the country and tide over the Current Account Deficit woes. "We have submitted the report to the finance minister. Action will be taken on it as and when the government decides. Policy is with DIPP so finally they will take a call. This is just our recommendation," economic affairs secretary Arvind Mayaram told reporters here. The co mmittee, which was set up by finance …
Anand Sharma for FDI cap hike in telecom, defence
In a bid to spur investments, Commerce and Industry Minister Anand Sharma today "strongly favoured" raising the FDI cap in telecom as well as defence sector and said he will meet global investors to address their concerns, particularly in multi-brand retail. Before leaving for 10-day visit from tommorow to Helsinki, St Petersburg, Belfast and London, Sharma said he will address all the concerns of foreign retail sector investors and ensure all help in setting up stores. Sharma said his ministry would move the Cabinet for …
FDI to our defence: Dependence on imports can be cut by allowing foreign companies to produce weapons in India
The chorus for increasing the foreign direct investment (FDI) limit in the defence sector is growing louder by the day. The parliamentary standing committee on defence has also now urged the government to raise the limit to mitigate the "steadily expanding deficiency in defence modernisation". Yet, there is a danger that the issue will be relegated to the back burner as in the past. The recurring and dominant theme of those who oppose the increase is that the defence sector must be the monopoly of the defence public sector undert…
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