PM Narendra Modi says government aims to increase defence manufacturing
Synopsis
Prime Minister Narendra Modi said on Thursday that the government aims to increase defence manufacturing in India
New Delhi: Prime Minister Narendra Modi on August 27 addressed an event on making India self-reliant in the defence sector through a video conference. Narendra Modi said that the government aims to increase defence manufacturing in India.
According to a media report, Modi said that for many years, India has been one of the biggest defence importers. When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get the requisite attention.
He added that a decision has been taken to permit up to 74% FDI (foreign direct investment) in defence manufacturing through automatic route.
The Prime Minister said at the Atma Nirbhar Bharat Defence Industry Outreach Webinar that efforts are being made to boost defence production, develop new technology and give a big role to private players in the defence sector.
He also said that our resolve for ‘Aatmanirbhar Bharat’ is not inward-looking, but for making India capable and boosting global peace and economy.
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