Updated August 27th, 2020 at 19:26 IST
PM Modi outlines efforts to achieve self-reliance in defence, stresses on self-confidence
Addressing the ‘Atmanirbhar Bharat-Defence Industry Outreach' webinar, PM Modi outlined India's efforts to achieve self-reliance in the defence sector.
Addressing the ‘Atmanirbhar Bharat-Defence Industry Outreach' webinar on Thursday, Prime Minister Narendra Modi outlined India's efforts to achieve self-reliance in the defence sector. Lamenting that India had lost a golden opportunity to focus on domestic defence production after independence, the PM stressed that the aim was to increase indigenous defence production and development of technology in India. He mentioned that steps such as easing the licensing procedure and improving the offset provisions had been undertaken by the Centre.
PM Modi remarked, "India has been one of the biggest defence importers in the world. When India achieved independence, there was a lot of scope for indigenous defence production. Very few countries had the potential like India. But it is India's misfortune that inadequate attention was paid to this issue over the decades."
"Now, the situation is changing. In the last few years, our aim has been to increase defence manufacturing and development of technology in India. Numerous steps such as ease in licensing procedure, preparations for a level-playing field, simplification of export procedures, improvement in offset provisions have been undertaken," he added.
Watch PM Modi's full address here:
Making India self-reliant in the defence sector. https://t.co/GDgfmgXzAV— Narendra Modi (@narendramodi) August 27, 2020
'Self-confidence is imperative'
Emphasizing on the importance of self-confidence, PM Modi said, "For the creation of a modern and Atmanirbhar Bharat, self-confidence in the defence sector is imperative. The decision to create the Chief of Defence Staff post is a reflection of this self-confidence. For a long time, foreign investment was prohibited in defence sector. Now, for the first time, 74% FDI in the defence sector through the automatic route has been approved".
Observing that the orders for the domestic industry are going to increase in the near future, the PM stated that a portion of the Defence Ministry's capital expenditure has been reserved for indigenous domestic production. He assured that more items would be added to the existing list of 101 defence items to be purchased from Indian producers. Moreover, PM Modi revealed that the Union government is continuously working to speed up the procurement process, streamline the testing arrangements, and rationalise the qualitative requirements.
"I want to stress that our aim of Atmanirbhar Bharat is not inward-looking. A capable India helps in making the global economy more resilient and stable and ensures world peace. This is the same sentiment for self-reliance in the defence sector. India has the potential to become a reliable defence equipment supplier to many friendly countries. This will strengthen India's strategic partnership," the PM explained.
Published August 27th, 2020 at 19:26 IST