Antony for PSUs to invest more time, money in R&D
India is looking to spend over USD 100 billion on defence procurements in next five to ten years.
New Delhi: Asking public sector units to
invest more money in research and development, Defence
Minister AK Antony on Tuesday said they should reverse the trend
of over-dependence on imports to meet the increasing military
hardware requirements of the Armed Forces.
India is looking to spend over USD 100 billion on defence
procurements in next five to ten years but depends on foreign
countries for around 70 per cent of these requirements.
"Requirements of our services will only increase over a
period of time. Till now, we have been over-dependent on
imports to meet our requirements and the earlier we reverse
this trend, the better it is for our defence industry," Antony
The Minister was addressing a ceremony to give away the
Raksha Mantri`s Awards for Excellence 2009-10 to the Defence
Public Sector Undertakings (DPSUs) and Ordnance Factory
"Not just DRDO, but all organisations should take a lead
in investing more and more time, money and human resources in
research and development," Antony said.
The Minister said to achieve this objective the DPSUs
and OFBs must develop and encourage in-house capabilities.
Increased self-reliance is the best way to strengthen the twin
processes of modernisation and indigenisation, he added.
Stressing on the need to "innovate and reform" at a
faster pace, Antony said, "Modernisation must be accompanied
by even greater transparency and accountability. This in turn,
calls for a far more efficient and professional management of
both the physical and human resources."