Arun Jaitley, the Defence Minister on Wednesday after the cabinet meeting addressed the media.

He said "The government will swiftly roll out the new strategic partnership policy, under which selected Indian private sector companies will partner with global armament companies to jointly manufacture fighter jets, helicopters, submarines and armoured vehicles like tanks under the 'Make in India' framework,"

"Under the policy, the capacity of Defence PSUs will also be taken into account, how much work they can do, and capacity building in private sector in the field of defence in the country should begin now,"he added.

"Under the policy, one company will be selected as the 'strategic partnership' at a time in each of the four segments in 'a transparent and competitive process'. The defence ministry will select the companies on the basis of adequate financial strength, demonstrable manufacturing and technical expertise, existing infrastructure and the ability to absorb technology from their foreign partners," Jaitley said.

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