Exhorts defence industry to ‘Make in India and Make for the world’ through increased collaboration: Rajnath Singh
New Delhi, 28 September (H.S): Government has created an atmosphere of jointness to ensure modernisation of the Armed Forces in the rapidly evolving global security scenario. This was stated by Defence Minister Rajnath Singh during his address at Society of Indian Defence Manufacturers (SIDM) Annual General Meeting here today. Rajnath Singh said, countries around the world are now focusing on the modernisation of their militaries and the demand for military equipment is rapidly increasing due to emerging security concerns, border disputes and maritime dominance.
?India is capable of meeting these needs through a cost-effective and quality approach. By India, we mean public sector, private sector, academia, research & development. We believe in taking them all onboard together,? said Rajnath Singh.
He emphasised that the Indian defence industry is home to manufacturers who can create a perfect blend of state-of-the-art, high quality and cost-effective hardware which will not only bolster national security but make India a net defence exporter. He reiterated the Government?s resolve of ‘Make in India’ and ‘Make for the world’ through past learnings, present works, with focus on empowering the future.
Underlining the importance of indigenisation, Singh listed out a number of reforms undertaken by the Government to encourage the participation of private sector and achieve ?Aatmanirbhar Bharat? envisioned by Prime Minister Narendra Modi. The Reforms include earmarking 64.09 per cent of the total Capital Acquisition Budget for 2021-22 for domestic capital procurement and 15 per cent of capital procurement budget for direct procurement from private industry; setting up of Defence Industrial Corridors in Uttar Pradesh & Tamil Nadu; introduction of Innovation for Defence Excellence (iDEX); free Transfer of Technology (ToT) through Defence Research & Development Organisation (DRDO) and increase in FDI in defence up to 74 per cent through automatic route & up to 100% through government route.
He added that the Government is providing a suitable growth environment to the private sector. ?We have opened up opportunities to build a Mega Defence Programme, including fighter aircraft, helicopters, tanks and submarines through a strategic partnership model that will help our private companies become global giants in the years to come. The recent contract of 56 transport aircraft for Indian Air Force is one such example,? he said. Rajnath Singh stated that due to these steps, defence exports have crossed Rs 38,000 crore mark in the last seven years; more than 10,000 Small and Medium Enterprises (SMEs) have joined the defence sector and there has been an increase in research & development, start-ups, innovation and employment.
