JD Patil of L&T Defence informed in an interview that the FDI standards in the defence sector will bring lots of new technologies in India, which is the need of the hour. The official added that the technology within the official document could come to India under the new FDI route. JD Patil of L&T Defence stated that there must be more modernization and must welcome the FII, which will help the company in exploring more technology. However, FII fund flows are always insignificant in India because of the controlled regime. The official also exposed his view by saying that he is not bullish on big investments as he thinks that the technology ownership will not remain with the Indian company. However, the ownership will be with the government of the company. Mr Patil is bullish for his own Company, he added. The company is expecting to have orders of value Rs 5,000-7,000 crore in next two quarters and the total of worth Rs 18,000-20,000 crore orders in FY17. However, Nomura is also positive about the L&T Finance and is expecting the company to earn USD 1 billion from the orders in defence.
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