Rapid Fire July 25, 2013: India’s Fuzzy FDI Policy

• Since a spat between India’s ministers of Commerce and Defense erupted publicly earlier this month, little clarity has emerged about what the ceiling for foreign participation in defense joint ventures would be. It looks like going beyond 26% and up to 49% might be left to case-by-base approval by cabinet committee. That sort of fuzziness is sure going to speed up and ease India’s acquisitions.