NEW DELHI (Reuters) - India on Wednesday cleared a long-awaited policy to boost local defence manufacturing by effectively picking industry champions that would tie up with foreign players and make high-tech defence equipment, Defence Minister Arun Jaitley said.
Under the "Strategic Partnership" model, the government will shortlist and then pick Indian companies to join forces with foreign firms to supply fighter jets, helicopters, armoured vehicles and submarines.
The policy, which has been under discussion for more than year, was approved by the Cabinet Committee of Security, Jaitley told reporters.
"For each platform, one private sector strategic partner will be chosen," he said.
(Reporting by Tommy Wilkes; Editing by Sanjeev Miglani)
Disclaimer: No Business Standard Journalist was involved in creation of this content
