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Latest Indian Defence News
Naresh Chandra Panel For Increase In FDI Limit
Calling for an increase in FDI limit in the Defence sector from the present 26%, the Naresh Chandra panel has said it would attract foreign vendors to offer their latest technologies for manufacturing military hardware in the country. The committee was formed by the Prime Minister's Office (PMO) recently to suggest reforms in the national security apparatus. At present, the FDI limit in Defence sector is 26% as the Defence ministry has been opposing any increase in it. "There is every need to support higher FDI so that the latest technologies already developed by foreign entities.
BEL, Thales to Form Joint Venture Firm for Developing Radars
India and France are all set to form a joint venture that will focus on designing, developing and manufacturing civilian and select military radars for both the Indian and global markets. The joint venture will be formed by Indian Defence public sector Bharat Electronics Limited (BEL) and French Defence firm Thales and the two companies announced their plans were approved by their respective boards in a statement here Wednesday. "Following the signing of the memorandum of understanding on November 17, 2009, Bharat Electronics Limited (BEL) and Thales are delighted to announce that the boards of both companies.
US Wants to Knock Down Bureaucratic Barriers In Defence Ties With India
US Deputy Secretary of Defence Dr Ashton B Carter has made it clear that Obama administration considers India a key part of its strategy to re-balance its strategic focus to Asia and that it wants to remove barriers and impediments that may come in the way, even as he pitched for India hiking its foreign direct investment (FDI) limit in Defence sector apart from tweaking its offsets policy to make economic and strategic sense. Our partnership with India is a key part of our re-balance to the Asia-Pacific region, and, we believe, to the broader security and prosperity of the 21st century.
US Think Tank Suggests Raising India’s FDI Cap to 50 Per Cent for Greater Defence Trade
Leading US think tank Centre for Strategic and International Studies (CSIS) has recommended that India must raise its Foreign Direct Investment (FDI) limit to unlock the full potential of Indo-US Defence partnership and boost Defence trade. In a recent report, the US think tank has suggested the India must increase the FDI limit from the current 26 per cent to 50 per cent to attract greater investment in the Defence sector besides other recommendations.
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