Indian Express
Express India
Screen
Loksatta
Express Cricket
Kashmir Live
Biz Publications
Indian Express |
Express India |
Screen |
Loksatta |
Express Cricket |
Kashmir Live |
Biz Publications |
|
New Delhi, September 20:: Fanning the hopes of private industry, the government said it would consider allowing 49 per cent foreign investment in the defence sector ‘on a case-to-case basis.’
"We will stick to the policy of allowing 26 per cent FDI in Indian defence sector. We will consider allowing 49 per cent FDI only on a case-to-case basis, if the industry is able to convince us," Defence Minister A K Antony told an Assocham seminar on Defence Procurement Policy in New Delhi.
Stating that India favoured openness in its defence deals, Antony assured the industry there would be no more ‘veil of secrecy’ surrounding the tendering process.
"We believe in open deals. There will be no more veil of secrecy in the Request for Proposals. Details would be made available to all industry representatives by placing the tenders on the net, except in the most sensitive cases, which is a minuscule number," he said.
Claiming that the government believed openness would ensure speedy procurement, the Minister said best equipment at affordable prices would be the norm for allotment of contracts.
"Earlier, only a select few companies got the RFP. But with the implementation of the new Defence Procurement Procedure-2008 (DPP-08), we will ensure every industry gets the tender details. That way we ensure transparency and also widen the vendor base," he said.
Discuss this story on expressindia forums
|
|
 |
 |
 |
About Us | Contact Us | Advertisers | Site Map | Make us your homepage | Work for Us | RSS | Subscribe | Electronic Edition | Privacy Policy© 2008: Indian Express Newspapers (Mumbai) Ltd. All rights reserved throughout the world
