NEW DELHI: India Inc on Sunday acknowledged the Centre’s decision to impose restrictions on import of 101 weapons and navy platforms, and creation of a separate budget for domestic capital procurement within the most recent monetary 365 days is a ”direction-breaking” reform towards changing into self-reliant and must silent boost indigenous defence manufacturing.
In a predominant reform initiative to spice up the domestic defence industry, Defence Minister Rajnath Singh on Sunday launched restrictions on import of 101 weapons and navy platforms, including artillery guns, assault rifles and transport plane.
“The Ministry of Defence is now ready for a mammoth push to #AatmanirbharBharat initiative,” Singh acknowledged on Twitter whereas making the announcement.
He acknowledged the Ministry of Defence (MoD) has ready a list of 101 items for which the embargo on imports is deliberate to be progressively implemented between 2020 and 2024.
“MoD has also bifurcated the capital procurement budget for 2020-21 between domestic and foreign capital procurement routes. A separate budget head has been created with an outlay of virtually Rs 52,000 crore for domestic capital procurement within the most recent monetary 365 days,” the Defence Minister tweeted.
Welcoming the initiative, CII Director General Chandrajit Banerjee acknowledged the defence minister’s announcement of negative import list of defence systems and platforms marks the open of a fresh wing direction for ‘Aatmanirbhar Bharat‘.
“Announcement of Rs 52,000 crore for domestic capital procurement coupled with the list of 101 items for import embargo affords a gargantuan boost to Aatmanirbhar Bharat and indigenous defence manufacturing,” he added.
Godrej & Boyce, which supplies strategies for aerospace and defence, acknowledged the authorities’s decision will provide a good-wanted fillip to Indian defence manufacturing companies.
“As a lengthy-term partner with deep partnerships with key strategic organizations admire DRDO and ISRO for over 30 years, we behold forward to making a domestic eco-gadget to support boost India’s domestic defence manufacturing capabilities in India and increase the vision of self-reliance,” acknowledged Godrej & Boyce CMD Jamshyd N Godrej.
The CII termed the announcements as “direction breaking” and stated, “On the present time is a historic day for Indian industry within the defence and aerospace. Can allege the Defence Minister that the Indian defence and aerospace industry will upward push to the teach and opportunities therein.”
“FICCI applauds the announcement of 101 #defence items for embargo on imports. A mammoth jump forward for #AtmanirbharBharat in RakshaUtpadan,” Shukla tweeted.
“Spacious transfer to earmark Rs 52okay cr for domestic capital procurement. It fulfills a demand by FICCI Defence Committee to offer lengthy-term visibility on defence procurement plans. Change can now conception its capex & manufacturing capability,” he acknowledged in any other tweet.
Assocham Secretary General Deepak Sood acknowledged with India being amongst the predominant importers of weapons, ammunition and high technology systems for the defense force, self reliance in defence manufacturing is the most desired policy initiative.
“Elevated capabilities in defence manufacturing not handiest offer a mammoth financial opportunity for the domestic industry, nevertheless also give an gargantuan strategic again to the country in a rapid evolving geo-political teach,” he added.
The list of 101 embargoed items contains some high-technology weapon systems admire artillery guns, assault rifles, corvettes, sonar systems, transport plane, gentle fight helicopters (LCHs), radars and loads other items.
Singh acknowledged all the predominant steps may maybe maybe well maybe be taken to be sure that timelines for domestic manufacturing of equipment identified below the negative list for import are met, including the measures will embody a co-ordinated mechanism for hand-preserving of the industry by the defence products and companies.
“The embargo on imports is deliberate to be progressively implemented between 2020 and 2024. The aim within the support of promulgation of the list is to apprise the Indian defence industry concerning the anticipated necessities of the defense force so that they are better ready to arrangement shut the aim of indigenisation,” he acknowledged.