The policy, whose finer details are still to be formalised, will initially allow the entry of private companies into the manufacture of submarines, fighter aircrafts and armoured vehicles through foreign partnerships, a statement issued by the Defence Ministry said.
“In future, extra fragments will be included,” the announcement said.
Industry specialists have said that deferrals in finishing acquisition strategies have undermined India’s endeavors to get neighborhood, to a great extent unpracticed, organizations to tie up with foreign manufacturers, an essential stride if household firms are to use the most recent technology.
Prime Minister Modi has promised to switch India’s dependence on imports by building a local manufacturing industry. The government is gauge to burn through $250 billion on modernisation of its military throughout the following decade.
On Saturday, The policy declared , would enable Indian organizations to band together with global defence “to look for technology transfers and assembling know-how to set up residential assembling foundation and supply chains,” the announcement said.
Foreign manufacturers such as Lockheed Martin, Boeing, BAE Systems and Saab are looking to India as one of the biggest sources of future growth.