Indian govt enhanced FDI in defence sector upto 74% through Automatic Route: Rajnath Singh

While addressing at the Aero India Show in Bengaluru on February 03, Union Defence Minister Rajnath Singh said, "The government of India has enhanced FDI in Defence Sector upto 74% through the Automatic Route and 100% through the government route, which would act as a catalyst for foreign players to invest in India." "I am very happy that HAL has got the orders for development of 83 new indigenous Light Combat Aircraft (LCA) - Tejas MK1A from Indian Air Force (IAF) valued at more than Rs 48,000 crores, it is probably the biggest 'Make in India' Defence contract till date," he added.