New Delhi: India’s Cabinet has approved plans to open its defence and railways industries to foreign investment as new Prime Minister Narendra Modi’s right-wing administration moves to reform and revive the ailing economy. Cabinet agreed late Wednesday (Aug 6) to increase the limit on foreign direct investment in defence to 49 percent from 26 percent, and allow unlimited investment in railway infrastructure, according to the Press Trust of India news agency.
India approves foreign investment hike in railways, defence
Gateway House's Associate National Security Fellow Sameer Patil was quoted in an article on Channel News Asia on the Indian government's decision approving foreign investment in the railways and defense industries