Six global defence majors, including US giants Lockheed Martin and Boeing, and European consortium EADS, today offered to invest an estimated $2 billion to $3 billion to revitalise India's defence and aerospace industry.Under the proposals, which came days after New Delhi unveiled a new investment-friendly weapons procurement policy, the companies offered to pump in more investments, create defence exports and set up weapon-related joint ventures.
A high-level US defence team led by Lieutenant General Jeffrey B Kohler held marathon discussions on Thursday with top Indian Air Force officials and submitted detailed technical parameters.
Defence Minister Manohar Parrikar says global aircraft makers will have to get approval from their own governments to transfer technology and build jets in India.
'Alas, the Congress party offers no suggestions as to how to unscramble the omlette it cooked during 2004-2014 on which the Modi government may have since lavishly spread some tomato ketchup,' says Ambassador M K Bhadrakumar.
'IAF is expanding at a rapid pace'
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