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Sep 29, 2014
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Making FDI in defence a win-win model
When commerce minister Nirmala Sitharaman circulated a detailed cabinet note on FDI in defence within two days of assuming office, hopes went up. However, they were dashed in less than two weeks when the defence minister (also the finance minister) Arun Jaitley capped defence FDI at 49%.India is one of the four countries to have placed their flags on the Moon. It is also the first country to enter the Mars orbit in its very first attempt. The country’s success in the highly complex space and nuclear technology is in sharp contrast to its dubious distinction as the world’s largest importer of defence technology. India imports 70% of its defence equipment.
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http://www.financialexpress.com
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