Prime Minister Modi has said that his Government will continue to open up India's defence sector. During his Keynote Speech at 40th AGM of US India Business Council (USIBC), the PM acknowledged that licensing policies can sometimes slow down the process of investing in India's defence sector.
"We are exploring a simpler and more efficient project licensing approach for defence. In the field of nuclear energy, we are purchasing six nuclear reactors from Westinghouse which will mark a new era in our nuclear and scientific cooperation. I was delighted when GE became one of the first companies to make a major investment in the newly liberalized railway sector. It is setting up a locomotive manufacturing plant in the relatively poor state of Bihar. I expect many more such investments," the PM informed.
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