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RM Round table on ‘Make in India in Defence Industry’ with top Defence and Aerospace manufacturers

With the objective to promote ‘Make in India’ in Defence sector, Raksha Mantri Shri Rajnath Singh will interact with top Defence and Aerospace Industry leaders at Vigyan Bhawan Annexe, here tomorrow. ‘Make in India in Defence Industry Roundtable’ is organised by Department of Defence Production, Ministry of Defence (MoD). It aims to explore ways to attract investment, address the concerns of the industry and promote innovations in Defence sector,MoD has taken several steps to ease licensing, promote exports and Foreign Direct Investment (FDI) in the Defence sector, process of acquiring defence industrial licence has been eased to significantly enhance ‘Ease of Doing Defence Business’. Applications have been received from various companies and 63 of them were disposed off within the time-frame in 2018-19, To promote defence exports, 668 No Objection Certificates were issued to companies during 2018-19. Steps have been taken to rationalise the Standard Operating Procedure (SOP) for reducing the time taken for granting permission for exports. The average time taken has reduced by 100 per cent to 32 days now. Defence exports have recorded a substantial rise to Rs 10,745 crore in 2018-19 from Rs 4,682 crore in 2017-18.

 

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