India hikes foreign direct investment in defence sector to 74% from 49% automatic route

Photo: India’s finance minister Nirmala Sitharaman at her day-4 press conference today.

New Delhi: India’s finance minister Nirmala Sitharaman today announced the hike in the Foreign Direct Investment (FDI) limit in the nation’s defence sector to 74 per cent from the existing 49 per cent automatic route, as a measure to tide over the economic slowdown in view of the COVID-19 pandemic lock down.

This was the fourth day that Sitharaman was addressing the media since India’s Prime Minister Narendra Modi announced a Rs 20 lakh crore ($265 billion) or 10 per cent of the nation’s Gross Domestic Product as the economic stimulus.

Here is a video of the entire press conference where Sitharaman talks about the package for the strategically important sectors of the country. Also, you will find the key decisions announced in the form of her office’s tweets here below:

Video: India’s finance minister Nirmala Sitharaman’s day-4 press conference on the economic stimulus for strategic sectors today.

Defence Sector Reforms

Civil Aviation Sector Measures

Space Sector Opens Up

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