The Modi government has liberalized foreign direct investment (FDI) rules in the defense sector. Given this information, a top official said he hopes to bring many projects in the area. In the automated sector, the FDI threshold for defense manufacturing has now been increased from 49 percent to 74 percent. “Our FDI system is one of the most generous in the world,” Guruprasad Mahapatra, secretary of the Department of Industry and Internal Trade Promotion (DPIT), told reporters. FDI is further liberalized in defense production. This is going to be a dice in India and I think there are many defense production projects coming up in the country.
; The government has decided to increase FDI in defense sector: Piyush Goyal
He said the government has proposed to increase the FDI limit in the budget in the insurance sector. Raising the FDI limit in the insurance sector from 49 percent to 74 percent will have a positive impact on India’s economy, Mahapatra said. This will enable global companies to adopt strategic and long-term ideas about the region of India, he said. It paves the way for long-term investment, global technology and the best of the world to come here.
Gold shines on the stock market, giving the corona vaccine pain, making it cheaper
The Secretary said it would also benefit end consumers as it would stimulate competition and strengthen the insurance sector and spread it to far off areas. With this, consumers get new and cheaper products. Speaking of boosting startup growth, the Secretary’s Department is working on a loan guarantee fund scheme that will make it easier for banks and non-bank finance companies to lend to emerging entrepreneurs.
.
