Commerce minister approves proposal to hike FDI in defence 100 pc

May 30, 2014 10:50

Minister of State for Commerce & Industries Minister (Independent charge), Nirmala Sitharaman has approved the Cabinet note proposing hike in FDI cap in Defence to 100 per cent, say sources.

Currently, the FDI cap in Defence is 26 per cent. AK Antony, who was the Defence Minister during the UPA regime was reportedly strictly opposed to hiking the FID cap to 100 per cent.

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