RIL, Punj Lloyd bag defence deals

A small change in foreign investment rules-by doing away with minimum 51% holding by a single Indian entity in a defence venture-has helped Mukesh Ambani's Reliance Aerospace and Punj Lloyd bag licences that they had been waiting for. While increasing the foreign direct investment (FDI) cap for defence to 49%, the government did away with the clause that had been in the policy for years, as part of a strategy to attract investment in local manufacturing units.

See the full article at The Times Of India