Make in India in defence sector

Make in India in defence sector

Raksha Mantri interacts with industry representatives for energising Make in India in defence sector

Raksha Mantri Smt. Nirmala Sitharaman interacted with CII representatives consisting of Indian companies and foreign OEMS at a roundtable on Energising Make in India in defence sector.

The present government has taken a series of significant policy initiatives, including the promulgation of DPP 2016 which gives the highest priority to indigenous design and manufacture of defence equipment, the introduction of Strategic Partnership model, liberalization of FDI norms and providing a level-playing to private industry.

In the roundtable, a wide range of issues relating to private participation in defence manufacturing, including matters relating to licensing, taxes and duties, speeding up of procurement processes, streamlining of the offsets regime and creation of a tiered defence industrial ecosystem with full integration and skilling of manpower in the MSME sector were discussed.

The present government is fully committed to removing all the stumbling blocks and facilitating private participation in defence manufacturing with the objective of bringing high value foreign investment into the defence sector, building indigenous capabilities, fostering absorption and assimilation of technologies, and ensuring self-reliance in meeting the country’s defence needs by providing a level playing field.

Raksha Mantri issued directions to the team of officers headed by the Defence Secretary for time-bound action on key issues raised at the roundtable, including the resolution of licensing with the Ministry of Home Affairs, tax-related matters with the Ministry of Finance, commercialization of technologies developed by DRDO and timely conclusion of procurement proposals.

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Neel Achary is the editor of Business News This Week. He has been covering all the business stories, economy, and corporate stories.