World sees India as a big & safe defence marketplace: Union Minister Piyush Goyal

New Delhi, May 28 (KNN) Union Minister of Commerce and Industry Piyush Goyal said that the world sees India as not only a big marketplace but also a safe place to work for defence manufacturing.

He further highlighted interest among international companies, including in Britain, for defence manufacturing in India. 

On his way back from the World Economic Forum (WEF) in Davos the minister was on a two-day visit to the UK. 

The whole world realises that India is a big market place, a safe place to work with in terms of manufacturing in defence equipment, particularly because we don't insist on technology transfer, we even allow coveted technologies to be owned fully by foreign investors, said Goyal.

The House of Commons was told earlier this month that India and the UK are due to finalise a "Letter of Arrangement" to help deliver advanced security capabilities through joint research, co-design, co-development and joint production of defence technology and systems.  (KNN Bureau)