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Govt to open ordnance factories to pvt. sector
By agencies
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Friday, 30 September 2005, 19:30 IST
NEW DELHI: In a significant move to ease IndiaÂ’s dependence on foreign arms suppliers, the government today moved a step closer towards opening up of ordnance factories by allowing them to have "working arrangements" with private industry.
"We can have a working arrangement based on Memorandum of Understanding (MoUs)", Defense Minister Pranab Mukherjee said.
He however ruled out allowing joint ventures and equity participation by private players in the restrictive guns and ammunition-manufacturing sector.
"I look forward to closer association of such nature between Indian public sector, private sector and also foreign producers", Mukherjee said.