Saab gets clearance for first 100 percent FDI in defense projects in India
Swedish automobile maker Saab is the first in India to get 100% foreign direct investment (FDI) in the defense sector. Saab would set up a new facility that will manufacture rockets. As per updates, the FDI proposal is valued at under Rs 500 crore.
India allows up to 74% FDI in the defense sector under the automatic route and beyond that clearances can be obtained on a case-by-case basis.
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