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October 2021
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Actress Shruti Haasan launches parcos.com        Scotland bundle out Oman for 122        Arrest warrants against 12 war criminals in Bangladesh        Cabinet hikes DA for central govt employees        CGH Earth plans 10 caravan parks across Kerala        Milma launches ‘Deepavali Gift Box’        Presidents of Maldives, Malawi, Israeli PM, US Secretary of State congratulate India on reaching vaccination milestone        Australia recover to post 152/5 as Kohli emerges as sixth bowling option        No application for virtual internship to be entertained: Sebi        IMF Chief Economist Gita Gopinath to leave job and return to Harvard University        Nepalese national raped in Delhi's Amar Colony area        Kerala rains: 39 dead, 3851 families in rehabilitation camps, says CM Pinarayi        Samajwadi Party has deviated from 'samajwad' to 'pariwarwad': PM        Orthopaedic problems in growing children        Delhi CM meets ace chess player Tania Sachdev, asks Sisodia to felicitate her        Adani group companies to invest over $50-70 billion in renewable energy value chain        Sirajuddin Haqqani meets families of slain suicide bombers, calls them 'heroes of Islam, country'        Modi government failed to control violence in J&K: Rahul        Air Customs officials seize gold worth around Rs 1.42 crores at Kannur Intl Airport        29 killed in Nainital, Almora in Uttarakhand rains        
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National News
India has scope to become defence manufacturing hub
 
New Delhi, Defence Minister Rajnath Singh on Tuesday pushed for indigenisation in defence manufacturing, and said that India has scope to emerge as a hub for defence equipment as nations are focusing on modernising their militaries.

"Government has created an atmosphere of jointness to ensure modernisation of the Armed Forces in the rapidly evolving global security scenario," Singh said on Tuesday addressing the Annual General Meeting of the Society of Indian Defence Manufacturers (SIDM).

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,” he said.

The Minister 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.

Underlining the importance of indigenisation, he listed out a number of reforms undertaken by the Government to encourage the participation of private sector in defence manufacturing.

He said 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 per cent 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," he said calling the recent contract with Airbus-Tata consortium for 56 transport aircraft for Indian Air Force as one of the examples.

He added that defence exports have crossed Rs 38,000 crore mark in the last seven years and over 10,000 Small and Medium Enterprises (SMEs) have joined the defence sector.


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INTERNATIONAL NEWS
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