16 March 2021
India raises USD3.6 billion through sales of defence firms
by Jon Grevatt
The Indian government has revealed that it has raised funds worth INR265 billion (USD3.6 billion) over the past five years by selling stakes in six state-owned defence public-sector undertakings (DPSUs).
Minister of State for Defence Shripad Naik said in parliament on 15 March that the divestments have not led to the government relinquishing control of the DPSUs but have been undertaken to “unlock value, promote public ownership, to meet minimum public shareholding norms … and [to] ensure higher degrees of accountability”.
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The Indian government has revealed that it has raised funds worth INR265 billion (USD3.6 billion) ov...
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