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World’s largest importer of arms is now allowing non-Indian companies to own up to 100 per cent of defense firms, a new government statement on Monday said. Apart from allowing upto 100 per cent foreign
Rajan has been vocal on the country’s bad loan problem.
As China and the US face off in the South China Sea, Washington is keen to enlist Indian support.
The perpetrator, carrying an AR-15 style assault rifle, killed 50 people and wounded 53 at a gay nightclub in Orlando on Sunday.
Russia is planning to build 20 nuclear reactors in India over the next 20 years.
Trade between US and India has burgeoned over the last decade, however, the relationship has been fraught with friction.
The worst hit are countries which have relied on oil exports as a major source of income.
Two major American business bodies have voiced disappointment with what they called "the glacial pace" of market reforms in India.
The Reserve Bank of India had eased rates by 150 basis points since January 2015.
The Indian Prime Minister is scheduled to visit the US from June 6-8.
