Insta
Modi Govt's Big Push For Make In India, Likely To Scrap, Put On Hold Multiple Defence Import Projects
Prime Minister Narendra Modi and Defence Minister Rajnath Singh.
In a big push towards self-reliance in defence sector and to give phillip to the Make in India initiative, the government is reportedly planning to shelve some major defence import projects being acquired through the Buy (Global) route.
The move comes as the government is working on the new Defence Production and Export Promotion Policy that will lay down the way ahead for boosting domestic defence production as well as export of the defence products to the friendly foreign countries.
A high-level virtual meeting of the Defence Ministry will take place on Wednesday in which the import projects under Buy (Global) category would be reviewed and are likely to be scrapped or put on hold by the government, news agency ANI quoted government sources as saying.
Under Buy Global category, the Indian Armed Forces can fully import the defence items from foreign vendors.
However, ANI cited sources as saying that now the first preference would be given to the acquisition of Indian Developed, Designed and Manufactured (IDDM) products.
With this major push for 'Make in India', the local manufacturers would be able to receive contracts for projects worth several thousand crore.
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