The Narendra Modi government’s decision to take the strategic partnership policy route with foreign companies to promote Make in India initiative in defense manufacturing will be to the advantage of Russian companies which already have solid ties in the sector, said experts.
New Delhi (Sputnik) — Unveiling the policy, India’s Defence Minister Arun Jaitley, who also holds the finance portfolio, categorically said the policy is aimed at “encouraging Make in India in relation to defense manufacturing.” The policy will allow Indian private sector companies to form joint ventures with global defense firms.
“The capacity building of the private sector in defense manufacturing will begin now,” PTI quoted Jaitley as saying after the Cabinet meeting.
Experts agreed the new policy will be contrary to the government’s attempts to build a military-industrial complex to boost job creation and spur innovation.
