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The Government had allowed 26 % Foreign Direct Investment (FDI) in defence equipment manufacturing sector in the year 2002.
No letter of Intent has so far been issued for production of defence equipment under FDI. However, 22 Letters of Intent/Industrial Licenses have been issued so far to private entrepreneurs for manufacture of various defence items. None of them have, however, commenced production as yet.
This information was given by the Minister of State for Defence Shri Bijoy Krishna Handique in a written reply to Shri Suravaram Sudhakar Reddy in Lok Sabha today.
SKS / RAJ
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