India witnessing transitional part in direction of self-reliance in defence sector: Rajnath Singh

By PTI

NEW DELHI: India is witnessing a transitional part in direction of self-reliance in defence sector and senior officers of defence PSUs ought to work collectively to make sure that their firms are amongst world’s finest, Defence Minister Rajnath Singh stated on Wednesday.

According to a defence ministry’s assertion, Singh stated in his speech at an occasion right here that the defence ministry has set a goal of Rs 1.75 lakh crore of defence manufacturing by 2025, which incorporates export of Rs 35,000 crore.

He exuded confidence that the defence public sector undertakings (PSUs) will play a significant function in attaining this purpose with a contribution of 70-80 per cent, urging CMDs (chairman and managing administrators) and NODs (non-official administrators) to work hand in hand to make sure that their firms discover place amongst world’s finest in several fields, the assertion stated.

Singh listed out varied initiatives taken by the defence ministry to realize self-reliance, together with simplification of acquisition technique of defence gear and platforms below Defence Acquisition Procedure 2020 and improve in FDI restrict to 74 per cent below computerized route and as much as 100 per cent below authorities route.