Text to Speech
New Delhi. Speaking on Thursday in the self-sufficient India Defense Industry Outreach Webinar, Prime Minister Narendra Modi said that our aim is to develop new technology in India itself. There should be more expansion of private sector in this particular sector. For this, several steps have been taken, such as improvement in licensing process, preparation of level playing field, simplification of export process, improvement in the provisions of Obset. He said that for the first time 74% FDI in the defense sector is being opened through automatic route. This is a result of the confidence of the new India.
The PM said that for decades the Ordnance Factories were being run like government departments. The country has suffered due to a limited vision, as well as the hard working, experienced and skilled working class working there has also suffered a lot. PM Modi said, I am happy that Union Defense Minister Rajnath Singh is fully engaged in mission mode for this task. His tireless efforts are sure to yield good results. Our results of self-reliance in the field of defense production will also be strengthened by the results that will be obtained from this churning happening here today. He said, India has been one of the largest defense importers for many years. When India gained independence, it had more capacity in the field of defense manufacturing but unfortunately, the subject could not get the required attention. The PM said that the efforts and commitment of the government are before you. Now we have to fulfill the resolve of a self-reliant India. Be it private sector, public sector or foreign partners, self-reliant India is the key resolution for all.
Defense Minister Rajnath Singh said during this time that we want to do something good for the world by becoming self-reliant. Some drastic policy reforms have been made in this direction such as a ban on the import of 101 defense goods. We have kept a large part of the annual budget for purchases from domestic industry only. This year it will be Rs 52,000 crore. We want to achieve the goal of Make for World, not just Make in India.