While announcing the Union Budget in the Parliament on Thursday, Finance Minister Arun Jaitley proposed setting up two defence industrial corridors in the next fiscal.
"We have taken measures to develop two defence industrial production corridors in the country. The government will bring out an industry- friendly defence production policy in 2018 to promote the domestic production by public sector, private sector, and the MSMEs," Jaitley said.
The government has opened a private investment in the defence production including liberalizing in Foreign Direct Investment (FDI), the Finance Minister informed.
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