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Oct 21, 2014
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Norms for defence sector companies eased
The government on Monday allowed private companies in the defence sector to sell equipment to state-run entities without prior approval of the defence ministry, a move that could attract investments in the sector. The decision came after the government opened the sector for higher foreign direct investments (FDI) and relaxed compulsory licensing for a number of equipment.“The licencee shall be allowed to sell defence items to government entities under the control of ministry of home affairs, state governments, public sector units and other valid defence licensed companies without prior approval of the Department of Defence Production (DoDP),” said a commerce and industry ministry statement.
Source -
http://www.business-standard.com
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