The UK-India Business Council (UKIBC) has called on the government in New Delhi to raise the cap on foreign direct investment (FDI) in the defence sector. Such a move, it said, will boost investment in Indian defence-industrial enterprises and strengthen strategic and defence ties between the two countries. The suggestion was included in a longer list of recommendations recently submitted to Indian Finance Minister Nirmala Sitharaman for consideration in the country's budget, which will be announced in early February. In its proposal the UKIBC suggested that the government raise the FDI limit in the defence sector from the existing 74% to 100%.
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