27 Jun '16, 4am

Govt. vows to make India a Defence Export hub

Govt. vows to make India a Defence Export hub

Defence minister Manohar Parrikar on Sunday said the Centre has decided to double the production capacity of two defence establishments in Odisha and concrete steps are being taken to make India an export hub in defence and make it self-reliant. "The government has taken steps in defence sector by increasing FDI. This has been done in order to make India an export hub over the years," he said while addressing a meeting with the ex-servicemen here. Rejecting apprehension that local manufacturers would be affected after allowing FDI in the sector, the defence minister said when the NDA government came to power, rate of import of defence material by India was 70 per cent. "Now, import of defence items has come down to below 60 per cent. I can assure that by the time the government ends its first term, we will be able to bring down our imports to 40 per cent," Parrikar said. A...

Full article: http://www.defencenews.in/article/Govt-vows-to-make-India...

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