- Swedish manufacturer of defense products is called Saab.
- The permission to open a factory in Haryana has been granted.
- This plant will also produce Carl-Gustaf M4 rocket launchers, anti-tank, bunker, and armor.
- India has up to 74% authorized FDI in the defense sector thus far.
- Despite the relaxation of FDI approval standards in 2015, no foreign business has been able to obtain 100% FDI permission in the defense sector up until this point.
- The Swedish business Saab has successfully secured India’s first-ever 100% foreign direct investment (FDI) in a defense project.
In order to establish a manufacturing in Haryana, a new business named “Saab FFV India” has been registered in India.
