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of <h1>India Revises FDI Policy: Defence Sector Now Allows 49% Automatic, Over 49% with Approval for Modern Tech Access.</h1> The Government of India revised its Foreign Direct Investment (FDI) policy in the defence sector in June 2016, allowing up to 49% FDI through the automatic route and beyond 49% through government approval if it results in access to modern technology. This policy is subject to industrial licensing under the Industries Act of 1951. Proposals exceeding 49% are reviewed by the Ministry of Defence and the Foreign Investment Promotion Board (FIPB). Since the sector opened for FDI, 36 proposals have been approved, with six new proposals received after the policy revision. This information was provided in a written reply in the Lok Sabha.
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