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Prime Minister Shri Narendra Modi on August 27 addressed Atmanirbhar Bharat Defence Industry Outreach Webinar through video conferencing.
- Addressing the webinar PM Shri Modi said “A decision has been taken to permit up to 74% FDI in the defence manufacturing through automatic route.”
- Shri Modi added “We aim to increase defence manufacturing in India”.
- He said, “For many years, India has been one of the biggest defence importers. When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get requisite attention.”
- He further added “Efforts being made to boost defence production, develop new technology and give big role to private players in defence sector.”