WASHINGTON: India's decision to increase FDI in defence is seen as a long-awaited positive move in the US, but major American defense industry players noted that there is unlikely to be a rush towards the country unless New Delhi is ready with fairly applied regulations.
"The announcement on FDI in defence reflects positive movement and we welcome that," a Boeing spokesperson told PTI.
"However, we await the final details to understand the meaningful changes this would bring to the defense sector and local industry," the spokesperson said.
Opening the doors to shore up foreign investments, India on Tuesday liberalised FDI limits in a dozen sectors, including allowing higher limits in 'state-of-the-art' defence manufacturing, to boost the sagging economy.
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