18 Apr '18, 12pm
The export target for Defence equipment has been fixed at Rs 35,000 crore by 2025
The Draft Defence Production Policy 2018, under consideration now, envisions India to be one of the world's top five defence producers by 2025 with self-reliance in 13 areas covering almost the entire range of weapons and systems. The export target has been fixed at Rs 35,000 crore ($5 billion) by 2025. The FDI limit is proposed to be raised to 74 percent under automatic route for niche technologies, said Dr Subhash R Bhamre, Hon'ble Minister of State for Defence. Dr Bhamre added that, The Make-in-India initiative offers a valuable opportunity for Indian and French enterprises to enter into arrangements for co-development and co-production of defence equipment in India, including through transfer of know-how and technologies to the mutual benefit of all parties. He expressed that the complexity of India's security challenges makes self-reliance in defence all the more impo...