Foreign direct investment in defence sector will help in increasing defence preparedness of the country and at the same time reduce dependence on imports, Commerce and Industry Minister Nirmala Sitharaman said on Monday.
She also said that relaxation in policy for FDI in defence would help in saving foreign exchange and in enhancing the country's capacity to produce defence equipment locally.
“...Is it going to be that every year you send this quantum of money outside or is it better that you gradually increase the capability of indigenous producers to make sure that you are able to buy in India enough arms and ammunitions which are helpful for the defence preparedness without sending the money out...,” Sitharaman said