The health ministry plans to oppose the application from Japan Tobacco International Ltd, the world's third largest tobacco company, to the Foreign Investment Promotion Board to raise its stake in its Indian venture from 50 to 74 per cent. The application is slated for consideration in the FIPB meeting on Tuesday.
India currently allows up to 100 per cent FDI in this sector, but the health ministry has moved a draft note for the cabinet to ban foreign investment in this sector
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