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