FDI worth Rs 5077 crore has been reported by companies operating in the defence sector. The FDI limit in the defence sector was enhanced in 2020 up to 74% through the automatic route and up to 100% by the government route. The defence industry sector was opened up for private sector participation in 2001.
Minister of State for Defence Ajay Bhatt and Saudi Arabia s Defence Minister Prince Khalid bin Salman bin Abdulaziz Al-Saud discuss bolstering bilateral defence cooperation, including joint military exercises and technology transfer. Amid global tensions in West Asia, particularly Iran-backed Houthi attacks on cargo vessels, discussions focused on collaboration in training, technology, and expertise exchange. Bhatt leads India s delegation at the World Defence Show 2024 in Riyadh, where further talks on defence production and R&D took place with Saudi officials.