FM announces hike in FDI in defence production; ban on certain imports of defence weapons
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To boost Make in India in defence production, finance minister Nirmala Sitharaman on Saturday said FDI limit in defence manufacturing will be hiked to 74% from 49% while some weapons and platforms will be banned for imports. Items banned for imports can only be purchased from within the country, she said presenting the fourth tranche of the economic package.
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