Jaitley says 49 pc FDI in defence significant establishing domestic market
July 13, 2014  13:13
Defence Minister Arun Jaitley today said the decision to raise FDI limit in defence sector to 49 per cent was a "significant step" in establishing indigenous military industry and suggested that any further increase could have created "larger complications domestically".

"Our assessment of the market is that the 49 per cent FDI limit in the sector, would be a significant step in establishing domestic defence market. The public opinion and Parliament's opinion in India is ready to accept the proposal that I have made. Other proposals may have created larger complications domestically," he said.

The minister was asked if the decision to enhance the FDI limit to 49 per cent from existing 26 per cent was enough. In an interview with Karan Thapar on news channel 'Headlines Today', Jaitley said the Indian public opinion was "more comfortable" with the proposal to have 51 per cent Indian control over these companies in future.
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