Report said that Prime Minister Narendra Modi has signalled resolve to build a strong military.
The government has cleared $8 bn plan to build India's most advanced warships, according to reports.
Modi held a cabinet committee meeting on security to approve construction of seven frigates equipped with stealth features, says a report.
There are media reports that government had also approved six nuclear-powered submarines for a further $8 bn.
We have raised the permitted level of FDI to 49%. This can go higher, if the project brings state-of the art technology," the PM said on Wednesday at Aero India, in Bengaluru.
“To many of you, India is a major business opportunity. We have the reputation as the largest importer of defence equipment in the world. That may be music to the ears of some of you here. But, this is one area where we would not like to be Number One! Our security challenges are well known. Our international responsibilities are evident. We do need to increase our defence preparedness. We do have to modernize our defence forces,” the prime minister said.
We have raised the permitted level of FDI to 49%. This can go higher, if the project brings state-of the art technology," the PM said on Wednesday at Aero India, in Bengaluru.
“To many of you, India is a major business opportunity. We have the reputation as the largest importer of defence equipment in the world. That may be music to the ears of some of you here. But, this is one area where we would not like to be Number One! Our security challenges are well known. Our international responsibilities are evident. We do need to increase our defence preparedness. We do have to modernize our defence forces,” the prime minister said.
No comments:
Post a Comment