India's self-reliance in defence sector to boost global standing: PM Modi

The government has opened the way for 74 per cent FDI (Foreign Direct Investment) in defence production through automatic route, PM noted

Prime Minister Narendra Modi said on Thursday that his government's resolve for 'Aatmanirbhar Bharat' is not inward-looking, but aimed at boosting India's capabilities and global peace, and also for helping the world economy become more stable.

Speaking at a defence industry outreach seminar, Modi said India's self-reliance on defence capabilities will boost its standing of being a net security provider in the Indian Ocean and make it a defence supplier for many friendly countries, depending on strategic ties.

Wooing private players, he asserted that the import embargo on a number of defence equipment is not only aimed at curbing imports