It is a ‘monsoon’of FDI announced by the Government of India. Against all earlier guidelines, 100% FDI has been announced in the strategic defence sector.This will give free hand to the private defence companies to take over the Indian defence production.
The FDI in Civil Aviation, Single Brand Retail, Pharma and certain other sectors have been increased including up to 100%.
India has now become the playground for the MNCs, foreign banks and financial institutions. The national security concerns are ignored.
The opposition parties including Congress and Left parties have strongly opposed the new increase in FDI.