https://www.taxtmi.com/circulars?id=52984 Amendment raises the Foreign Direct Investment cap in defence subject to industrial licence to 49% under the Government route, with proposals above that level considered by the Cabinet Committee on Security where they may afford access to modern technology. The 49% limit is composite across all foreign investment categories; portfolio investments by FPIs/FIIs/QFIs together with FVCIs are capped at a combined 24% under the automatic route. Up to 49% the investee must be Indian owned and controlled, have Indian management and a resident Chief Security Officer; applications are processed by DIPP in consultation with Defence and filed with the FIPB Secretariat. en-us Tue, 26 Aug 2014 00:00:00 +0530 Tue, 26 Aug 2014 18:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=52984 Amendment raises the Foreign Direct Investment cap in defence subject to industrial licence to 49% under the Government route, with proposals above that level considered by the Cabinet Committee on Security where they may afford access to modern technology. The 49% limit is composite across all foreign investment categories; portfolio investments by FPIs/FIIs/QFIs together with FVCIs are capped at a combined 24% under the automatic route. Up to 49% the investee must be Indian owned and controlled, have Indian management and a resident Chief Security Officer; applications are processed by DIPP in consultation with Defence and filed with the FIPB Secretariat. Circulars FEMA Tue, 26 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/circulars?id=52984