Private players should play instrumental role in defence sector,says PM

Prime Minister Narendra Modi has stressed that the private sector can play instrument role in research, innovation, design, manufacturing of indigenous defence products to make country self reliant in the defence sector. He appealed to private sector to work with the government in a coordinated manner to prepare the road maps and action plans to create defence technology as per the need of 21st century.Speaking at the webinar for effective implementation of Union Budget 2021 provisions in the Defence Sector, the Prime Minister on Monday, said, capital outlay has been increased 19 per cent in the Union Budget which shows the commitment of government for modernization of defence sector. He said, reservation has been made in the capital budget for the domestic procurement of defence items.

Highlighting the need for reducing import dependence of defence equipments,  Modi said, country must move forward to become exporter of defence equipments from net importer. He said, the government is promoting the indigenous manufacturing of defence technologies and equipments which will boost the MSME sector and startups. He said, the defence corridors will also help local entrepreneurs and local manufacturing units. He added that the reforms that are taking place today are giving MSMEs more freedom and scope for expansion.

The Prime Minister said, India has prepared a list of 100 important defence items which is termed negative list, but this list can be converted to positive list by achieving self-reliance in defence sector. He added this positive list will facilitate indigenous manufacturing capacity and create more job opportunities in the country. Modi said, country is moving forward in Defence sector with an endeavour to have transparency, predictability and ease of doing business since 2014. He added that the government has taken many steps in the form of de-licensing, de-regulation, export promotion, foreign investment liberalization to promote defence sector.