SP model in defence gets Cabinet approval

NEW DELHI: In a major step for defence indigenisation, the Union Cabinet today gave its go ahead to the ‘strategic partnership’ model under which select private firms will be engaged to build military platforms like fighter jets, submarines and battle tanks.

            The new policy is expected to attract billions of dollars of investment in defence manufacturing by private defence majors including leading foreign firms.

            After the cabinet meeting, Defence Minister Arun Jaitley said the Government wants to implement at the earliest the new model which is aimed at production of major defence platforms and equipment by Indian companies in collaboration with leading foreign firms. (AGENCIES)

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