Virendra Singh Rawat
Lucknow / Aug 9, 2019
Defence minister Rajnath Singh today voiced central government’s desire to encourage private investment in defence sector, while also strengthening defence public sector units (PSU) and Ordnance Factory Board (OFB).
Addressing CEOs of top defence and aerospace companies at a roundtable ‘Make in India in Defence Industry’ in New Delhi, Singh noted there was huge potential for the private sector defence ware manufacturers both in domestic and export markets.
Indian defence industry’s production stood at Rs 80,000 crore in 2018-19, of which Rs 16,000 crore was contributed by the private sector.
He informed strategic partnership model had been notified to establish defence manufacturing infra and supply chain through which Indian companies could choose a partner through a competitive process. He underlined FDI policy in defence sector has been liberalised.
While highlighting various measures initiated by the government to encourage defence exports, Singh urged industry to work towards increasing exports.
Singh maintained self reliance in defence sector would not be possible without development of indigenous technology and called for steps to develop such technologies.