The policy aims to promote ‘Make in India’ as OEM’s which transfer technology to Indian companies will gain under the new policy while those who can move their manufacturing plants to India will get priority.
IDD explainer In a long-pending reform, India, has allowed foreign original equipment manufacturers (OEMs) to invest upto 74 percent stake in Defence equipment manufacturing sector in India via the Foreign Direct Investment (FDI) route, allowing the OEM’s, a controlling stake in production. India is the second largest importer of weapons and equipment, accounting for 9.2
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