Antony snubs Anand Sharma on FDI

Defence minister A K Antony has firmly opposed the move by a section in the government to hike FDI in defence sector, arguing that encouraging foreign companies to set up manufacturing base in India would be a retrograde step. However, he has agreed to a case-by-case examination to increase FDI limit from the present 26% in case it would result in access to state-of-the-art technology from foreign companies.

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