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Defence Ministry lays out new plans to boost domestic arms buys to Rs 1.4 lakh crore

“In order to enhance procurement from domestic industry, it is incumbent that procurement is doubled from the current Rs 70,000 crore to Rs 1,40,000 crore by 2025,” the draft policy reads. The objective set up for the department of defence production is to achieve a turnover of Rs 1.75 lakh crore in the aerospace and defence sector by 2025.
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4 Aug 2020 1 Mins Read 0 comment
The policy proposes to carve out a distinct budget head for domestic capital procurement, which would be increased at a rate of 15 per cent per annum for the next five years. Agencies
The policy proposes to carve out a distinct budget head for domestic capital procurement, which would be increased at a rate of 15 per cent per annum for the next five years.
New Delhi: The defence ministry plans to increase procurement from the domestic industry to Rs 1.4 lakh crore by 2025, doubling the current spending as part of its plans to create and sustain a defence manufacturing ecosystem that will also focus heavily on exports. A draft policy on defence production and export promotion lays down the internal target of
projects have been identified to seek industrial partners. This includes fifth generation fighters, transport aircraft, missiles, armoured vehicles and Artificial Intelligence. The draft also proposes to set up a Technology Assessment Cell (TAC), which would assess industrial capability and identify system integrators that can develop and sustain major systems like submarines, choppers and fighters over the next 25-30 years.
New Delhi: The defence ministry plans to increase procurement from the domestic industry to Rs 1.4 lakh crore by 2025, doubling the current spending as part of its plans to create and sustain a defence manufacturing ecosystem that will also focus heavily on exports. A draft policy on defence production and export promotion lays down the internal target of projects have been identified to seek industrial partners. This includes fifth generation fighters, transport aircraft, missiles, armoured vehicles and Artificial Intelligence. The draft also proposes to set up a Technology Assessment Cell (TAC), which would assess industrial capability and identify system integrators that can develop and sustain major systems like submarines, choppers and fighters over the next 25-30 years.

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