Categories: Business

india prepares roadmap to promote defense exports using diplomatic channels

Photo: PTI

india prepares roadmap to promote defense exports

new Delhi. The government has prepared a special scheme to encourage the export of indigenous military equipment and weapons. A senior Defense Department official said on Monday that diplomatic channels would be used to encourage exports of defense products made in India. Defense Minister Rajnath Singh announced a major policy decision this month, saying that 101 military equipment and weapons imports would be banned in a phased manner. The motive behind this is to give impetus to the domestic defense industry. Raj Kumar, secretary in the Department of Defense Production, said in a webinar on Monday that the domestic defense industry will conduct web discussions with representatives of friendly countries, to find out what kind of products and platforms they need. Kumar said, "We are profiling products, weapons and platforms based on countries. This will enable us to know what products our friend countries need. We are planning a web discussion led by the industry. "Our defense public sector undertaking (DPSU) and industry will then decide what we have that can be encouraged to export," he said.

Kumar said the government stands with the industry to encourage exports through its defense partners, embassies and diplomatic channels. In order to encourage domestic manufacturing, the Ministry of Defense had announced on August 9 to curb the import of 101 defense equipment and weapons. Kumar said that a second list of defense products will be notified soon, whose imports are to be curbed.

Addressing the webinar 'Army Make Projects 2020' organized by the industry body FICCI, Kumar said, "This is the first list we are reviewing. A second list will also come soon. ”He told the industry that we hope that you will come forward to invest soon to meet our need. The senior official said that once the successful bidding companies reach the stage of defense equipment production, the department will then share their details with the defense corridor authorities of Uttar Pradesh and Tamil Nadu. They will compete to attract your units to their state.

This post was published on August 17, 2020 5:43 pm

Content Team

Recent Posts

Ban on gaming apps hopes for opportunity for domestic sector

Photo: MEDIATEK online gaming new Delhi. The government has banned 118 apps keeping in mind the security of the country.…

India august gold imports double to hit 8 months peak says source

Photo: TIMESOFINDIA gold import at 8 months high new Delhi. The economy is now looking forward to a gradual recovery.…

Coal India Q1 profit plunges 55 percent YoY

Photo: GOOGLE Coal India Q1 result new Delhi. Coal India's profit fell 55 per cent in the first quarter to…