India Cannot Keep Depending on Foreign Govts for Defence Supplies, Self-reliance Key: Rajnath Singh
4 years, 7 months ago

India Cannot Keep Depending on Foreign Govts for Defence Supplies, Self-reliance Key: Rajnath Singh

News 18  

Defence Minister Rajnath Singh on Thursday said India cannot depend on foreign governments and overseas suppliers to meet its requirement of military platforms, and self-reliance in the defence sector is far more crucial than any other field. In a mega push to boost domestic defence production, Singh on Sunday announced that India will stop import of 101 weapons and military platforms like transport aircraft, light combat helicopters, conventional submarines, cruise missiles and sonar systems under a staggered timeline running into 2024. The decision to prune the import list of weapons systems under a year-wise schedule was first announced by Finance Minister Nirmala Sitharaman in May while rolling out reform measures for the defence manufacturing sector that included increasing the FDI limit from 49 per cent to 74 per cent under the automatic route. The defence ministry has set a goal of a turnover of USD 25 billion in defence manufacturing in the next five years that included an export target of USD 5 billion worth of military hardware.

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