India currently imports at least 90% of its defence equipment including parts for assembly. The world’s largest defence importer has announced a new policy inviting foreign defence manufacturers to set up shop as minority partners in India. Luring foreign defence companies to build in India would be a major and much-needed boost to the economy. Under the strategic partnership policy, India will line up domestic companies that foreign players have to choose from to set up local plants. China also built up local defence equipment manufacturing by forcing international firms to link up with Chinese companies and to hand over technology.

Source: Mint August 20, 2017 05:26 UTC