The Commerce Ministry has cleared the DIPP note to hike FDI in the defence sector to 100 percent from the current 26 percent. Defence FDI will be automatic and it has been proposed that at 49 percent foreign company will not have any controlling stake, but above that, Foreign Investment Promotion Board (FIPB) approval and Cabinet Committee on Security (CCs) approval will be needed. The only person to oppose the proposal of hiking of FDI cap during the United Progressive Alliance - II (UPA) regime was Defence Minister AK Antony. Defence ministry portfolio is currently handled by Arun Jaitley, who has also taken charge of the finance portfolio. So, from defence and finance perspective, FDI in defence shouldn't be an issue.





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