The world’s largest defence importer has announced a new policy inviting foreign defence manufacturers to set up shop as minority partners in India. Foreign companies say the opportunity is too good to miss. 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. For the Indian companies, which would hold the majority stake, it is a big win, says Dhiraj Mathur, an aerospace and defence specialist for the PwC consultancy.

Source: Hindustan Times August 20, 2017 13:18 UTC