Recently the news has come on the internet that Sweden’s Saab allegedly became the first foreign firm that has bagged 100 percent FDI in India’s defence projects. As per the report, Sweden Saab will set up the latest facility in the county that would manufacture shoulder-fired rockets. Since the news has come on the internet and it has gone viral on the social media platforms uncounted reactions started hitting the headlines. Because lots of people are super curious to know about the whole information. In this article, we will try to give complete information about the news, so let’s continue the article.
Citing sources, the English Daily added that the ₹500 crore FDI proposal had been cleared the previous month. Presently, India permits only 74% FDI in the fort sector under the automatic route. Beyond that, support rules were relaxed in 2015, still on the foreign company was still able to get approval for 100% FDI in defense. The Government has liberalized and authorized FDI under automatic routes up to 74% and up to 100% through the Government road wherever it is possible to result in access to modern technology. Scroll down to the next page for more information about the news, so please read the complete article.
As per the report, India got a foreign direct investment (FDI) cost of $3.21 million in defense initiatives during the April -September period in FY 2023. The sector had attracted $2.36 million in foreign investment in 2021-22, $0.63 million in 2020-21,$2.20 million in 2019-2020, $2.18 million in 2018-2019 and $0.01 million in 2017- 2018. Currently, this news has been making social media platforms and uncounted reactions started hitting the headlines on the internet. Now lots of people are super curious to know about the whole information. You are on the right page for more information about the news, so please read the complete article.
What will Saab do?
Saab FFV India has been registered according to the ET report and will make the new generation of the Carl Gustaf M4 system. This shall be the first time Saab will manufacture Carl-Gustaf M4 outside Sweden. The Saab facility is possible to come up in Haryana. The shoulder-fired rockets have been used by Indian armed forces extensively, and nations like Europe and the United States nations also utilize them to take down fortified enemy armor, personnel, and positions. Here we have shared all the information that we had if we get any information about the news. Stay tuned to us for more updates.