Public-private partnership can bring ‘defence production revolution’: Rajnath
Defence minister Rajnath Singh on Tuesday said the government has created an atmosphere of jointness to ensure modernisation of the armed forces in the rapidly evolving global security scenario. In his address at Society of Indian Defence Manufacturers (SIDM) annual meeting, he added public-private partnership can bring a “Defence Production Revolution” and help achieve the vision of “Aatmanirbhar Bharat (self-reliant India)”.He underlined the importance of indigenisation and spoke about the reforms undertaken to integrate the private sector and achieve Atmanirbhar Bharat. “The reforms include earmarking 64.09% of Capital Acquisition Budget for 2021-22 for domestic capital procurement and 15% of capital procurement budget for direct procurement from private industry; setting up of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu; introduction of Innovation for Defence Excellence; free Transfer of Technology through Defence Research & Development Organisation and increase in FDI in defence up to 74% through automatic route and up to 100% through government route.”
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