CITU against private entry in defence sector

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New Delhi, Aug 9 (UNI) The trade union wing of CPI(M) today opposed the reported move of government to notify 13 private companies as Raksha Udyog Ratnas (RURs), claiming it was aimed at backdoor entry of foreign direct investment (FDI) of up to 26 per cent in defence sector.

Centre of Indian Trade Unions president M K Pandhe said once RURs are treated at par with government ordnance factories and allowed FDI, it would lead to 70 billion dollar worth defence business in next five-year for the United States in line with the Indo-US Defence Framework Agreement to tap the lucrative Indian defence manufacturing industry.

Reminding the government of defence employees' opposition to the move during their meeting with the Defence Minister on July 26, Mr Pandhe urged it not to succumb to pressure of corporates for notifying RURs and instead make ordnance factories and defence public sector units as genuine "Ratnas" in the service of the nation.

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