India is expected to eliminate ban on foreign institutional investor (FII) investments in defence, providing relief to listed equipment manufacturers, like Larsen & Toubro (L&T) and Pipavav Defence and offering greater flexibility to those firms that have big stakes in the industry, like Tata and Mahindra groups. The nation's defence sector received foreign direct investment (FDI) inflows worth USD 4.94mn since April 2000 . The FDI in defence was increased to 26% through the automatic approval route in August this year, while above 26% those proposals are likely to be selected that provide access to technology after being cleared by the Cabinet Committee on Security .
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