Commuters at a suburb railway station in Mumbai, India. India's cabinet has agreed to allow unlimited investment in the country's vast and crumbling state-run railway network, which carries 23 million passengers a day - EPA Photo.
NEW DELHI: India's cabinet has approved plans to open its defence and railways industries to foreign investment as new Prime Minister Narendra Modi's administration moves to reform and revive the ailing economy.
Cabinet agreed late on Wednesday to increase the limit on foreign direct investment in defence to 49% from 26%, and allow unlimited investment in railway infrastructure, according to the Press Trust of India news agency.
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