Stephen Cohen
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Defence manufacturing could be India’s biggest job spinner: Modi to Wall Street Journal
Prime Minister Narendra Modi has identified defence manufacturing as India’s biggest job spinner, saying the government was committed to making arms and equipment at home.
Talking to the Wall Street Journal on Wednesday, the eve of the second anniversary of his government, Modi said India certainly wanted to go ahead with manufacturing “because we have a lot of defence imports”.
India is the world’s largest importer of arms, accounting for 14% of global purchases. New Delhi desperately needs to modernise its aging Russian-era equipment as China and Pakistan upgrade their arsenal with latest technology and purchases.
“If I look at it from an economic point of view and to provide jobs to my country’s young people, the defence-manufacturing sector can provide maximum number of jobs to my country’s youth,” he told WSJ. He was working hard for it and had been talking to other countries as well.
“Today, unlike before, India is not standing in a corner,” he added.
The government has relaxed foreign investment norms for the defence sector that also figures big in its ambitious Make In India plan.
Talking about India’s relationship with the US, Modi said it was a matter of great pride that the US congress had invited him to address a joint session.
Modi will be in the US on June 7 and 8 for his fourth visit to the country in two years.
President Barack Obama and he “have developed a kind of friendship where we speak freely to each other”.
India sought closer ties will all its neighbours but won’t compromise on terrorism, Modi said when asked about improving ties with Pakistan.
http://www.hindustantimes.com/india...pinner-modi/story-yqqNSoMXkd22tt9XAkZVkL.html
Prime Minister Narendra Modi has identified defence manufacturing as India’s biggest job spinner, saying the government was committed to making arms and equipment at home.
Talking to the Wall Street Journal on Wednesday, the eve of the second anniversary of his government, Modi said India certainly wanted to go ahead with manufacturing “because we have a lot of defence imports”.
India is the world’s largest importer of arms, accounting for 14% of global purchases. New Delhi desperately needs to modernise its aging Russian-era equipment as China and Pakistan upgrade their arsenal with latest technology and purchases.
“If I look at it from an economic point of view and to provide jobs to my country’s young people, the defence-manufacturing sector can provide maximum number of jobs to my country’s youth,” he told WSJ. He was working hard for it and had been talking to other countries as well.
“Today, unlike before, India is not standing in a corner,” he added.
The government has relaxed foreign investment norms for the defence sector that also figures big in its ambitious Make In India plan.
Talking about India’s relationship with the US, Modi said it was a matter of great pride that the US congress had invited him to address a joint session.
Modi will be in the US on June 7 and 8 for his fourth visit to the country in two years.
President Barack Obama and he “have developed a kind of friendship where we speak freely to each other”.
India sought closer ties will all its neighbours but won’t compromise on terrorism, Modi said when asked about improving ties with Pakistan.
http://www.hindustantimes.com/india...pinner-modi/story-yqqNSoMXkd22tt9XAkZVkL.html
