Aero India l ‘Plan to spend $130 bn in military modernisation’: Rajnath Singh

• Defence Minister Rajnath Singh inaugurated the Aero India show in Bengaluru and urged foreign companies to invest in India in the defence sector. The government also formally handed over a contract of 83 LCA Tejas fighters to Hindustan Aeronautics Limited. Rajnath Singh also said that the government plans to spend $130 billion on defence modernisation in the next seven to eight years. He also said the domestic manufacturing for the defence sector has now become a focus area for the government. ‘The Government of India has enhanced FDI in Defence Sector up to 74% through the Automatic Route and 100% through the Government route, which would act as a catalyst for foreign players to invest in India,’ Rajnath Singh said. The Aero India, known as Asia's largest defence and aerospace exhibition, is being held in Bengaluru from February 3-5. Watch the full video for all the details.