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India land of billion opportunities for defence equipment makers: Nirmala Sitharaman

Bengaluru, Feb 20 (UNI) The 12th edition of Aero India 2019 began with the thunder of metal birds dotting the skies of Indian Air Force Yelahanka Air fields and Defence Minister Nirmala Sitaraman gave a clarion call to global Defence companies saying that India was a land of billion opportunities for Defence equipment manufacturers to expand globally by investing in the country.
Speaking at the inaugural function of the Asia’s biggest air show, she said that Prime Minister Narendra Modi government had rolled out a red carpet to Defence equipment manufacturers and under Make in India policy the country had signed 200 MoUs in this sector amounting to an investment of Rs 1.27 lakh crore in the last one year alone.
‘’Now we will be signing another 164 request for proposals that will be executed in the next one year with a size of Rs 2.80 lakh crore investment for Defence procurement. So, there are huge opportunities for the global majors to tie up with Indian companies in government, public and private sectors to tap the opportunities,’’ she added.
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