The Indian government has disclosed the scope of efforts to promote inward investment in the country’s defence sector.
In a parliamentary reply on 5 March, India’s Minister of State for Defence, Subhash Bhamre, said 12 defence-related foreign direct investment (FDI) proposals through the ‘government route’ had been approved since 2014.
He also outlined the government’s plans to expand the privatisation of government-owned defence public sector undertakings (DPSUs). Bhamre revealed that the government has plans to sell stakes in seven of its nine DPSUs.
Bhamre said in comments published by the government’s Press Information Bureau (PIB) that the 12 FDI proposals had been approved through the ‘government route’ since the start of the ‘Make in India’ initiative in September 2014.
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