Western Powers Rush To Court PM Narendra Modi With Eyes On Lucrative Defence Deal

By SiliconIndia   |   Monday, 30 June 2014, 05:51 Hrs   |    2 Comments
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BANGALORE:  The new government is all set to open the emerging defence industry to foreign investment and thus it seems that the western governments are rushing to meet the New Prime Minister Narendra Modi with few multi-b-illion dollars deals reports Reuters. Since India got Independence in 1947 each prime minister thought of improving India’s military capacity but it seems that Modi is intensively looking out for building up the country’s military capabalities and turn world’s largest importer in to a heavyweight manufacturer.

The proposal kept in the front of the new government included raise caps on foreign investment, with an option to allow complete foreign ownership of some defence projects. "All the countries are trying to make their case, especially as there is the sense that the Indian market will undergo a shift," said Harsh Pant, professor of international relations at King's College, London. "They get a sense from their dealings that something dramatic is going to happen and they want first-mover advantage," said Pant, who specialises in Indian defence.

The minister s those will arrive in New Delhi will be French Foreign Minister Laurent Fabius, who will meet Modi as well as his most powerful minister, Arun Jaitley, who holds the twin portfolios of defence and finance, next will be U.S. Senator John McCain is also due in India next week, Foreign Secretary William Hague and finance minister George Osborne from Britan and Deputy Prime Minister Dmitry Rogozin from Russia.

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