Finland to enhance defence cooperation with India
04 May 2010
Finland has expressed its desire to enhance cooperation with India in the field of defence production and defence research and development.
Visiting Finland defence minister Jyri Hakamies discussed the regional security situation with his Indian counterpart, when he called on AK Antony at the defence headquarters, last week. Both the ministers shared their perspectives on UN peacekeeping operations also.
Hakamies was on a five-day official visit to India. He also visited the Defence Research and Development Organisation, Western Air Command Headquarters, Institute of Defence Studies and Analyses before inaugurating the India-Finland defence industry-to-industry round table being organised by CII/FICCI at India Habitat Centre in Delhi.
Meanwhile, the government said it has no plan to make provision for 100 per cent foreign direct investment (FDI) in defence production sector.
"No request for permitting 100 per cent FDI has been received from L&T, Tata, Mahindra and Punj Lloyds," minister of state for defence MM Pallam Raju informed the Rajya Sabha last week.
As per extant rules, FDI up to 26 per cent is permitted in defence sector, subject to FIPB approval. This policy was arrived at taking into account the sensitive nature of the defence sector he said.
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