TIL Desk/National/New Delhi/ Defence Minister Rajnath Singh has invited leading Swedish defence majors to set up manufacturing bases in India as he showcased the country as an attractive destination for investment to produce military equipment and platforms.
In an address at a conference on India-Sweden defence industry cooperation, he said the government has rolled out a series of reforms to help the defence industries serve not only Indian requirements but also meet global demands.
The defence minister also mentioned allowing up to 74 per cent foreign direct investment (FDI) through automatic route and up to 100 per cent through government route in the defence manufacturing sector.
He said the technology-centric FDI policy will enable Indian industries to collaborate with Swedish industries in the field of niche and proven military technologies.
