A boost to ‘Make in India’, new policy to include private sector in defense manufacturing
Source :News Bharati English   Date :21-May-2017

New Delhi,  May 21: India has been concentrating on domestic production since the launch of ‘Make in India’. The program aims to transform India into a global design and manufacturing hub. Giving a boost to the program, Defense Acquisition Council finalized the broad contours of a policy aimed at engaging the Indian private sector in the manufacture of high-tech defense equipment in India. Minister of Defence  Arun Jaitley chaired the council.

The main aim of the policy is to develop defense industrial eco-system in the country. This encourages the involvement of both the major Indian corporate as well as the MSME sector. Long-term strategic partnerships with qualified Indian industry majors helped to develop with qualified Indian industry majors leading to the final policy.

The policy will give a boost to the ‘Make in India’ policy in the Defence sector and set Indian industry on the path to acquiring cutting-edge capabilities which will contribute to the building of self-reliance in the vital sector of national security requirements.

In these sectors- fighter aircraft, submarines, and armored vehicles, the policy is expected to be implemented. After few days, other segments may be added to the policy. Appropriate institutional mechanisms will be set in place to implement the policy.