Defense Minister Rajnath Singh announced that the Ministry of Defence has set a target of Rs 1.75 lakh crores in defence production by 2025, which includes Rs 35,000 crores in exports. He exuded assurance that the Defense PSUs, with a contribution of between 70 and 80 percent, will play a significant part in reaching this aim. The minister urged the Non-Official Directors (NODs) of DPSUs to see that the government’s measures for achieving “Aatmanirbharta in Defense” were carried out smoothly.
Buy Prime Test Series for all Banking, SSC, Insurance & other exams
Key Points:
- During the first-of-its-kind workshop held by the Department of Defence Production in New Delhi, he was speaking to the CMDs and NODs of DPSUs.
- According to the Defence Minister, the nation was in a moment of transition toward self-reliance, and active and cooperative efforts were essential to achieving Prime Minister Narendra Modi‘s vision of Aatmanirbhar Bharat.
- NODs characterised as a link between DPSUs and the MoD, strengthening corporate governance in PSCs and ensuring that the job was carried out in accordance with government policy.
The MoD have taken various steps to achieve self-reliance, including the Defense Acquisition Procedure 2020’s simplification of the acquisition process for defence platforms and equipment, flexibility in offset guidelines, an increase in the FDI limit to 74% under the Automatic Route and up to 100% under the Government Route, simplification of the licence application process, the launch of the Innovations for Defence Excellence (iDEX) initiative, and enhanced cybersecurity.
Find More News Related to Defence
Paris Olympics 2024 Medal Tally, India M...
Delhi's New Mayor AAP's Mahesh Kumar Khi...
India’s Outward FDI Hits $3.7 Billion ...
