PM Modi urges private firms for manufacturing of defence equipment
Recently, Hon’ble PM Narendra Modi invited private sectors to come forward in manufacturing as well as in the design and development of defence items. During the webinar organised for Webinar for effective implementation of Union Budget provisions in the Defence Sector, the Prime Minister also stated that part of the money has also been reserved for domestic procurement in the defence capital budget.
If private sectors enter into manufacturing defence items on its own it would help enhance India’s glory worldwide. Further, PM also mentioned that India has made a list of 100 important items related to defence and these can be manufactured only with the help of the country's local industry.
The entry of private players will not only boost domestic manufacturing but also reduce the dependency on other nations for sourcing parts or components for manufacturing defence products.