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Finance Minister Arun Jaitley has proposed two defence industrial corridors in the country to promote domestic production in both public and private sectors.
Presenting the Finance Budget for 2018-19, Jaitley said the government will focus on the creation of these industrial corridors to boost investments in the production of defence armaments.
Earlier this month, Defence Minister Nirmala Sitharaman had asked the Tamil Nadu State Government to work on a defence corridor connecting Kattupalli port, Chennai, Tiruchi, Coimbatore, Hosur and Bengaluru.
The announced made by the Finance Minister comes almost a year after Jaitley, who was handling the defence portfolio for a brief period last year, had rolled out the ‘Strategic Partnership’ (SP) Policy to boost private sector defence production, especially in fighter jets, battle tanks, military choppers and armoured vehicles.
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