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KPMG on 100% FDI in Defence

Foreign staff may come in as experts and consultants after due security clearance

May 31, 2014 2:57 IST | India Infoline News Service
"Great step by the NDA govt. The FDI limit increase to 74/100% has been awaited for several years now. Arms imports worth billions of dollars could have been avoided had this happened earlier. The FDI reform will open the floodgates of investment in India's defence industry. Defence imports will be discouraged and lakhs of direct and indirect jobs will be created. Our vision is to have a best-in-class fighter jet being designed, developed, assembled in and exported from India by 2020", says Amber Dubey, partner and India head of aerospace and defence at global consultancy KPMG.

"The FDI reforms should be accompanied by adequate checks and balances. Subsidiaries of global defence companies in India should mandatorily have 100 percent Indian citizens as employees.  Foreign
staff may come in as experts and consultants after due security clearance. No plant and machinery, technology or products should be allowed to be repatriated out of India in case of withdrawal of the foreign company from India", Dubey added.

Amber Dubey, partner and India head of aerospace and defence at global consultancy KPMG

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