Increased FDI limit in defence sector would provide a boost to the military industry in country and will help public sector firms play a big role in defence sector manufacturing, HAL chief R K Tyagi said today.
"HAL welcomes 49 per cent FDI in defence sector as we feel that it would give boost to production activities in India. This opens the door for leading company like HAL to play a big role along with the other players in defence manufacturing," he said.
The government yesterday raised the FDI limit in defence sector to 49 per cent from the existing 26 per cent in the general Budget.
Tyagi said the budget also gives a thrust to modernisation "as it seeks to create conducive environment for technology development and research".
11/07/14 PTI/Economic Times
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"HAL welcomes 49 per cent FDI in defence sector as we feel that it would give boost to production activities in India. This opens the door for leading company like HAL to play a big role along with the other players in defence manufacturing," he said.
The government yesterday raised the FDI limit in defence sector to 49 per cent from the existing 26 per cent in the general Budget.
Tyagi said the budget also gives a thrust to modernisation "as it seeks to create conducive environment for technology development and research".
11/07/14 PTI/Economic Times
