Speed News: Govt plans to make India 'defence manufacturing hub' under 'Make in India' policy

Currently, most of India’s defence requirements are catered largely by imports. The opening up of defence sector for private sector participation under the government’s strategic partnership model will help the foreign original equipment manufacturers to enter into strategic partnerships with the Indian companies and leverage the domestic markets as well as aim at global markets. Besides helping in building domestic capabilities, this will also bolster the exports in long term.