Big push for 'Atmanirbhar Bharat’ as India permits up to 74 per cent FDI in defence manufacturin

In a major push for for 'Atmanirbhar Bharat’ in the defence sector, Prime Minister Narendra Modi said that the government has taken a decision to permit up to 74 per cent FDI in the defence manufacturing through automatic route. “We aim to increase defence manufacturing in India,” said the PM adding that India can be a reliable weapons supplier to friendly nations. He also said that the government will consolidate India's position as a net security provider in the region. Addressing the 'Atmanirbhar Bharat Defence Industry Outreach Webinar' through video conference the PM said that for many years, India has been one of the biggest defence importers. 'India has the capability of being a reliable weapons supplier' “When India got independence, it had the great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 yrs. Unfortunately, this subject couldn’t get requisite attention,” he added. Chief of Defence Staff Gen Bipin Rawat also said that India's armed forces are committed to hand-hold the domestic industry in developing next-generation military platforms and equipment to make the country self-reliant in defence manufacturing. Addressing the seminar, General Rawat said nothing will give the armed forces greater satisfaction than fighting and coming out victorious in wars with indigenous technology and equipment. He further said that the country has been facing numerous security threats and challenges and that in the near future they are only going to increase adding that the country has the capability to deal with them. 'Will consolidate India's position as a net security provider in the region' Elaborating on various policy initiatives by the Narendra Modi-led BJP government to promote the domestic defence industry, CDS Rawat said the strength of the Defence Research and Development Organisation (DRDO) should be utilised in bringing out new equipment and technologies. India has been making a push for achieving self-reliance in defence manufacturing with the Centre outlining a broad roadmap to make the country a hub of defence manufacturing with several policy initiatives to promote the domestic defence industry. On August 9, Defence Minister Rajnath Singh announced that India will stop the import of 101 weapons and military platforms like transport aircraft, light combat helicopters, conventional submarines, cruise missiles and sonar systems by 2024 following which the DRDO identified 108 military systems and subsystems for the domestic industry to design, develop and manufacture.