India eyes investors in Aerospace sector |
Speaking at the Aero India 2019 Defence Minister Nirmala Sitharaman invited Investors to capitalize on the ecosystem in aerospace strongly batting for the `Make in India` campaign. India has invited investors to capitalize on the ecosystem in aerospace and other sectors in India, which offered a big market for Defence manufacturing. Defence Minister Nirmala Sitharaman inaugurated the Aero India 2019, at the Yelahanka air base in Bengaluru and batted strongly for `Make in India` campaign. She said, during the last four years, 150 contracts worth about 18 billion dollars have been signed with the Indian vendors for procurement of defence equipment for the armed forces. The Civil Aviation Minister Suresh Prabhu informed that Aviation sector has grown by 20 percent in the last four years in the country. Defence Minister enlisted many initiatives taken by the government, including permitting 100 per cent Foreign Direct Investment in Defence manufacturing. She added that India has exported the advanced light helicopter to Nepal, Maldives and Mauritius and Cheetal helicopter to Afghanistan. She said that Original Equipment manufacturers are keen on setting up manufacturing units in the country.
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