India to allow 74% FDI in defence: PM
rediff.com , Aug 27, 2020
PM Narendra Modi addresses the 'Atmanirbhar Bharat Defence Industry Outreach Webinar' through a video conference.
"We aim to increase defence manufacturing in India. For many years, India has been one of the biggest defence importers.
"When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn't get requisite attention.
"A decision has been taken to permit up to 74 per cent FDI in the defence manufacturing through automatic route. We aim to increase defence manufacturing in India."
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