Swedish defence firm Saab announced its plan to set up a manufacturing facility in India for the Carl-Gustaf M4 shoulder-fired weapon system under the NDA government’s ‘Make in India’ initiative to bolster indigenous defence manufacturing, a company official said.

• Production at the new facility is expected to begin in 2024, even though the firm is yet to reveal the location.
• The company is looking at the 100% foreign direct investment (FDI) route to set up the new venture but will pursue the 74% FDI option with an Indian partner if the former doesn’t work out. India allows 100% FDI in defence only on a case-by-case basis.