India Broadcasts Policy For Strategic Partnerships In Defence

Prime Minister Modi has vowed to reverse India’s dependence on imports by building a local manufacturing industry.
ADVERTISEMENTIndia on Saturday finalised a policy that would allow local private companies to work with foreign players to make high-tech defence equipment, in a boost to Prime Minister Narendra Modi’s bid to cut reliance on imports.
The policy, whose finer details are still to be formalised, will initially allow the entry of private companies into the manufacture of submarines, fighter aircrafts and armoured vehicles through foreign partnerships, a statement issued by the Defence Ministry said.
ALSO ON HUFFPOST:Lucknow’s First Pride Parade Lucknow’s First Pride Parade1 of 11 Share this slide:
Foreign manufacturers such as Lockheed Martin, Boeing, BAE Systems and Saab are looking to India as one of the biggest sources of future growth.

Read more on: http://www.businessinsider.in