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HAL welcomes increased defence FDI, new airports

HAL Chief R K Tyagi says the Budget seeks to create conducive environment for tech development and research

Press Trust Of India  |  New Delhi 

Increased limit in sector would provide a boost to the military industry in country and will help public sector firms play a big role in sector manufacturing, chief said today.

"welcomes 49 per cent in sector as we feel that it would give boost to production activities in India. This opens the door for leading company like to play a big role along with the other players in defence manufacturing," he said. The government yesterday raised the limit in defence sector to 49 per cent from the existing 26 per cent in the general

Tyagi said the also gives a thrust to modernisation "as it seeks to create conducive environment for technology development and research". The HAL, which has two civil in Bangalore and Nashik in Maharashtra also welcomed the government's resolve to create new in smaller cities and towns.

"This would enable us to take up civilian operations with more confidence. Our airport at Nashik just over 100 km from Mumbai is prime example of this," Tyagi said.

Commenting on the government decision to give management role to Indian only, a senior Deloitte official said, "The Government has attempted to follow a balanced approach for foreign and Indian to work for the indigenous defence manufacturing requirements in India."

First Published: Fri, July 11 2014. 20:31 IST