Someone had raised the question about gravely risking and compromising of our defense and national security in allowing 100 per cent FDI in Defense but it is the other way round as we are actually more compromised with imports rather than our own manufacturing. One should remember local manufacturing is more accountable than imports in every way one imagines it. Today we are thinking of importing basic carbines for our soldiers and even uniforms rather than manufacturing them locally so the question is what would be compromised - JUST NOTHING.
The million dollar question is would vested interests allow this policy to see the light of the day. Imagine millions of jobs this opening up would bring with it with new dockyards, airports, educative academies, factories, foundries, electronics, software companies etc. seeing the light of the day. Imagine the private sector investing heavily in research and development for our future defense needs which is next to zero today.
This would also improve our civil industrial infrastructure as well, as new and advanced technology absorption would surely give birth to discovery of newer indigenous technologies hence benefiting everyone. New specialized engineering colleges would open up totally focused on our defense sector requirements hence more jobs for our young and inspiring generation.
The best part is that our ageing and loss making public sector units can be converted into huge profit making projects with the opening up of the FDI in defence and government insuring their involvement in it.
Corruption would be curtailed, accountability, transparency would rise, as manufacturing would be local and controlled by Indian laws rather than foreign where we are always handicapped.
I hope that this FDI policy sees the light of the day.
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