India's new policy lures foreign defence companies to manufacture there

New Delhi

INDIA has drawn up a shopping list for tens of billions of dollars of foreign fighter jets, armoured vehicles, submarines and helicopters - but it will only sign the cheques if they are made in India.

The world's largest defence importer has announced a new policy inviting foreign defence manufacturers to set up shop as minority partners in India. Such deals would boost job creation and bring key defence technologies into India.