https://www.taxtmi.com/news?id=23161 The policy raises the level of permitted automatic foreign investment in defence manufacturing while retaining the government route for higher stakes where access to modern technology or other reasons are recorded. Licence applications are to be considered by DPIIT in consultation with the Ministry of Defence and Ministry of External Affairs. Foreign investments remain subject to security clearance and defence guidelines; the government may review any investment affecting national security. Companies must be self-sufficient in design and development and provide maintenance and life cycle support for products manufactured in India, and ownership changes may require declarations or government approval depending on the change. en-us Fri, 18 Sep 2020 15:07:28 +0530 Fri, 18 Sep 2020 15:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=23161 The policy raises the level of permitted automatic foreign investment in defence manufacturing while retaining the government route for higher stakes where access to modern technology or other reasons are recorded. Licence applications are to be considered by DPIIT in consultation with the Ministry of Defence and Ministry of External Affairs. Foreign investments remain subject to security clearance and defence guidelines; the government may review any investment affecting national security. Companies must be self-sufficient in design and development and provide maintenance and life cycle support for products manufactured in India, and ownership changes may require declarations or government approval depending on the change. News - Fri, 18 Sep 2020 15:07:28 +0530 https://www.taxtmi.com/news?id=23161