The government will bring out an industry friendly defence production policy in 2018 to promote domestic production by public sector, private sector and MSMEs, Finance Minister Arun Jaitley said in his Union Budget.
"When NDA (National Democratic Alliance) government came to office a lot of emphasis was given to modernising and enhancing the capability of the defence forces. A number of initiatives have been taken to develop and nurture intrinsic defence production capable of making the nation self reliant for meeting our defence needs and ensuring adequate budget support to our priority areas," he said.
"We have opened up private investment in defence production including liberalising Foreign Direct Investment."
--IANS
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