The FDI hike in defence is intended to cut imports by indigenising defence production as India is one of the world's largest arms importers. <br /><br />"It is a composite cap, incorporating all forms of foreign investment, FDI, FII, FPI, NRI, etc," said a government official confirming that the proposals has been cleared. Experts did not seem impressed with the cautious stance of the Modi government on defence.<br /><br /><br />For More information on this news visit: http://www.itvnewsindia.com/<br />For More information on this news, visit: http://www.indianews.ind.in/<br />Connect with us on Social platform at: http://www.facebook.com/IndiaNewsTV<br />Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia<br />Connect with us on Social platform at: https://www.facebook.com/pages/India-News/371196196360607
