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DIPP clears 19 defence manufacturing proposals

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ANI New Delhi

The Department of Industrial Policy and Promotion ( DIPP) has cleared 33 defence proposals.

A statement issued by the Commerce Ministry said that of these 33 proposals, 19 relate to foreign direct investment to boost manufacturing in the defence sector.

The decision has been taken in the wake of the FDI cap in defence being raised from 26 to 49 percent.

The statement quotes Commerce Minister Nirmala Sitaraman, as saying that the decision will give a major impetus to the 'Make In India' programme initiated by the government to boost domestic manufacturing.

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First Published: Oct 08 2014 | 8:59 AM IST

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