The minister addressed CEOs of leading French defence industries and called on them to collaborate in modernising India's shipyards and defence platforms through the infusion of technology
Defence production targeted to reach $26 billion annually by 2025
Former Defence Minister Manohar Parrikar had announced this project in October 2016
Project 75-I, worth an estimated Rs 50,000 crore, will be India's last overseas submarine procurement and hence the last chance to obtain the technology for building the next 12 submarines
In 2014-15, 2015-16, and 2017-18, the sector attracted FDI worth $0.08 million, $0.10 million and $0.01 million, respectively, according to data given by Minister Piyush Goyal
Besides imported guns, a bouquet of indigenous guns awaits trials
Military power is key to a nation's rise to great or super power status, Jaitley says