The decision to procure the fleet was taken at a meeting of the Cabinet Committee on Security (CCS) chaired by Prime Minister Narendra Modi, Defence Minister Rajnath Singh said

Of the 46 contracts of offset commitments worth Rs 66,427 crores made by foreign vendors from 2005 till March 2018, only Rs 11,396 crore has been claimed, a CAG report showed

Defence Minister Rajnath Singh on Sunday announced that India will stop import of 101 military systems and weapons like transport aircraft, light combat helicopters, conventional submarines and cruise missiles by 2024 to promote India's domestic defence industry

The draft Defence Production and Export Promotion Policy 2020 set an export target of Rs 35,000 crore ($5 billion) in aerospace and defence goods and services in the next five years

The defence policy reforms would provide long-term visibility which is much needed to drive investments in this sector, says a top official with Larsen & Toubro

Union Minister of State for Defence Shripad Naik on March 4 had informed the Lok Sabha that data from 79 companies operating in defence and aerospace sector showed FDI inflows were over Rs 1,834 crore under both government and automatic route, till December, 2019

Singh said USD 10 billion investment in aerospace and defence goods and services was expected by 2025 which could provide employment to 2-3 million people

The government has spent Rs 75,900.54 crore in 2018-19, Rs 72,732.28 crore in 2017-18 and Rs 69,280.16 crore in 2016-17

India's defence budget has increased over the past few years but its share in GDP has remained the same.

From red tapism to excessive focus on control, Indian defence procurement has everything to keep investors away.

U.S. defense firms offering to set up production lines in India to win deals worth billions of dollars want stronger assurances they won't have to part with proprietary technology.

Fixing the Indian Railways won't be easy. It connects the entire country through 68,525 km of route track (in 2014), 12,961 passenger trains, and 8,637 freight trains. It also runs 125 hospitals, 586 polyclinics, 102 schools and sundry other initiatives.

The Narendra Modi government's focus on the growth of Indian defence sector seems to have had an impact on the global aerospace and defence (A&D) industry as more number of companies are looking at the country, along with China, as a low-cost manufacturing destination and a high potential market.

\"The Gujarat government's policies for electronics, IT/ ITES, textile, cottage and plastic industries, manufacturing, tourism amd MSME encouraged investments and job creation in the state. The state is coming up with policies in aerospace and defence, agro food processing and smart cities,\" said Anandiben Patel, Chief Minister of Gujarat said.

\"This deal should be viewed as a precursor to many such deals going to happen in this sector,\" says Sanjay Sethi, who runs Nector Consulting and was the senior executive director and head of infrastructure Group at Kotak Investment Banking.

The 51:49 JV will have the technology transferred from Rafael to manufacture Spike missiles for Indian armed forces for which the govt is slated to float a tender soon.