Defence wares will be manufactured in India by the foreign companies

  • Raising the FDI limit and relaxed the FDI policy for the defence sector boosted the foreign companies to manufacture defence wares in India, in collaboration with Indian firms.
  • Defence Acquisition Council (DAC) approved projects worth Rs 178,036 crore during FY15.
  • Parrikar, Defence Minister, said that the projects for defence offset could cross $35 billion by this year
  • As on July 2015 India has issued a total 287 industrial licenses in defence sector.
  • Private players like Reliance Defence, Tatas, Mahindras and L&T are heavily investing in defence offset capacity to bag government orders in India and abroad.
  • In order to encourage Private Sector, Government reserved few Projects for them.
  • The push for defence manufacturing started last year as part of the Make in India initiative

Source: Defence News

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