PM Narendra Modi all set to boost defence spending
The foreign direct investment cap in defence sector has been raised from 26 to 49 per cent and there is a push for indigenisation.
An estimated Rs 25, 000 crore will be spent in over the next seven to eight years with a number of defence deals being put on the fast track.
The Narendra Modi government is all set to give a big boost to defence spending. An estimated Rs 25, 000 crore will be sunk in over the next seven to eight years with a number of deals being put on the fast track.
There's more for the defence sector. The foreign direct investment cap has been raised from 26 to 49 per cent and there is a push for indigenisation. Indeed, these moves are intended to ensure that the country's defence preparedness is on track.
(Graphic by Ajay Thakuri)
