Union Budget 2015: BEL, Bharat Forge react on allocation for defence space

Bharat Electronics and Bharat Forge have reacted positively on the back of government allocation of Rs 2.47 lakh crore for defense equipment in FY16.

Bharat Electronics  and  Bharat Forge have reacted positively on the back of government allocation of Rs 2.47 lakh crore for defense equipment in FY16.

The sector has only recently seen a spurt of activity after the Prime Minister Narendra Modi announced his Make in India policy with the sole intention of transforming India into a global manufacturing hub in September 2014.

The local manufacture of defence equipment is the focal area of Modi's Make in India programme given that India imports nearly 60 percent of its defence equipment.

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Union Budget 2015: BEL, Bharat Forge react on allocation for defence space

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