Overseas direct funding (FDI) in defence sector would require safety clearances, the federal government mentioned in a notification on Thursday.
The federal government had allowed overseas corporations to immediately make investments as much as 74 per cent possession in defence sector from an earlier cap of 49 per cent.
“Overseas Investments within the Defence Sector shall be topic to scrutiny on grounds of Nationwide Safety and Authorities reserves the suitable to evaluate any overseas funding within the Defence Sector that impacts or could have an effect on nationwide safety,” the assertion mentioned.
