India is among the world's top three importers of defence equipment. In order to boost local production, € 6.5 billion has been set aside for domestic capital procurement.
The list includes not just simple parts but also high tech weapon systems - artillery guns, assault rifles, corvettes, sonar systems, transport aircraft, light combat helicopters (LCHs), radars, etc.
This offers great opportunities for advanced technologies for defence manufacturing, machine tools and engineering products, which the government hopes can act as an engine to revive long-term economic growth.
Read more about the initiative here
Source: The Indian Express