Modi wants co-production through JVs with foreign partners.
Prime Minister Narendra Modi has called for the development of new technology and for significant roles for the private sector in the defence sector.
“Our aim is to boost defence production,” he added during a webinar on “Atmanirbhar Bharat in Defence manufacturing” held 27 Aug 2020.
He enumerated several concrete steps undertaken in domestic manufacturing such as improvement in the licensing process, creating level playing field, simplification of the export process.
The Prime Minister said a sense of confidence in the defense sector is essential for building a modern and self-reliant India.
Similarly, he highlighted that opening of the defence sector by permitting 74% FDI via automatic route reflects the confidence of the new India.
Modi pointed out that steps such as earmarking a part of the capital budget for domestic procurement, including the 101 items for domestic procurement will encourage and give a fillip to domestic defence industries.
He also said that the Government is working on speeding up the procurement process, streamlining the system of testing etc.
He also added that the Corporatization of Ordnance factories will strengthen both the workers and the Defence sector.
Emphasizing on the need for technology up-gradation for self-sufficiency in modern equipment, the Prime Minister said that in addition to DRDO, the Government is encouraging Research and Innovation in the private sector and in academic institutions as well.
He emphasised on co-production through joint ventures with foreign partners.
Highlighting that the Government has been working on the mantra of Reform, Perform, and Transform, Modi said major reforms are underway in areas of Intellectual Property, Taxation, Insolvency and Bankruptcy, Space and Atomic Energy.
On the infrastructure initiatives, he said the state-of-the-art infrastructure is being built in collaboration with the state government of Uttar Pradesh and Tamil Nadu with an investment target of Rs.20,000 crores in the coming five years.
The iDEX initiative, which was launched to encourage entrepreneurs particularly those associated with MSME and Start-ups, is also getting positive results. Through this platform, more than 50 start-ups have developed technology and products for military use, he noted.
The goal is to build a capable India to make the Global Economy more resilient, more stable and to bring peace in the world, he stressed.
This is the idea behind Atmanirbharta in Defence Manufacturing as India has the potential to become a reliable supplier of defence equipment to many of its friendly nations. It will strengthen India’s strategic partnerships and strengthen India’s role as a “net security provider” in the Indian Ocean region, the Prime Minister said.
He said feedback and suggestions received on the Defence Production and Export Promotion Policy Draft will help in implementing this policy at the earliest.
“Collective efforts will help in releasing our resolve to become self- reliant, to become an Atmanirbhar Bharat,” said the Prime Minister. #defence #production #makeinindia #manufacturing #exports /fiinews.com