Rajnath invites Swedish firms to invest in defence sector

Tribune News Service
New Delhi, June 8

Defence Minister Rajnath Singh on Tuesday told Swedish military equipment making industries that foreign companies could set up manufacturing facilities individually or partner with Indian companies through a technology agreement to capitalise on the ‘Make in India’ opportunity.

He was speaking at the India-Sweden Defence Industry Cooperation, with the theme ‘capitalising opportunities for growth and security’. An MoU was signed between the Society of Indian Defence Manufacturers (SIDM) and Swedish Security and Defence Industry (SOFF) to promote bilateral defence industrial relations. A dedicated Joint Working Group will be formed to take forward mutual objectives. The Defence Minister of Sweden, Peter Hultqvist, was the guest of honour. Rajnath invited Swedish firms to invest in defence corridors in Uttar Pradesh and Tamil Nadu, saying they could take advantage of the unique incentives being offered by the state governments and the availability of a highly skilled workforce in India.