India's defence sector is moving ahead with transparency, predictability and ease of doing business: PM Narendra Modi

Prime Minister Modi said that India has made a list of 100 important items related to defence, which can be manufactured indigenously with the help of country's local industries. He said a timeline has been set so that our industries can plan to meet these requirements.

File Photo: PIB

New Delhi: Prime Minister Narendra Modi on Monday (February 22, 2021) said that India's defence sector is moving ahead with transparency, predictability and ease of doing business.

PM Narendra Modi said, "Since 2014, it has been the government's endeavor to move forward in the defence sector with transparency, predictability and ease of doing business. The government has taken steps to bring about de-licensing, de-regulation, export promotion, foreign investment liberalization, etc."

The Prime Minister was addressing a webinar on effective implementation of the Union Budget provisions in the defence sector.

He said that the webinar assumes great significance as it is focusing on the important issue of making the country's defence sector self-reliant.

Speaking at the Webinar for effective implementation of Union Budget provisions in the Defence Sector. https://t.co/2gstvbmPh5

— Narendra Modi (@narendramodi) February 22, 2021

PM Narendra Modi said that there used to be hundreds of ordnance factories before independence and in both the world wars, weapons at large scale were exported from India. 

"But, for many reasons, this system has not been strengthened as much as it should have been after independence," he stated.

Prime Minister Modi said that his government has relied on the capabilities of Indian engineers and scientists on developing the Tejas fighter aircraft and today Tejas is flying gracefully in the skies. 

Notably, an order worth Rs 48,000 crore was placed for Tejas a few weeks back.

The Prime Minister further said that India has made a list of 100 important items related to defence, which can be manufactured indigenously with the help of country's local industries. He said a timeline has been set so that our industries can plan to meet these requirements.

PM Modi said that a part has been reserved for domestic procurement even in the capital budget of defence and urged the private sector to come forward and take up both designing and manufacturing of the defence equipment so that the Indian flag can be kept flying high on the global stage.

He said that MSMEs work as a backbone for the entire manufacturing sector and the reforms that are taking place today are giving more freedom to MSMEs and encouragement to expand.

The Prime Minister said that the defence corridors that are being built in the country today will also help local entrepreneurs and local manufacturing. 

"Self-sufficiency in our defence sector has to be seen as the empowerment of these two fronts – 'Jawan as well as Naujawan'," PM Modi said.