The government is considering a centrally sponsored scheme to incentivise investments in Defence Industrial Corridors and develop the defence manufacturing ecosystem, Defence Minister Rajnath Singh announced today.
He said that for the first time, private industries have been given a share in domestic manufacturing.
Rajnath today held consultations with Chief Minister of Uttar Pradesh Yogi Adityanath to enhance investment in the UP Defence Industrial Corridor (UPDIC) at the Chief Minister’s residence in Lucknow. The minister listened to the views of representatives of private defence industries present at the meeting and was briefed on the progress of investments in UPDIC.
Appreciating the presence of a large number of Industry representatives, he expressed confidence that a strong defence manufacturing ecosystem will soon be created in Uttar Pradesh helping to achieve ‘Aatmanirbhar Bharat’ envisioned by Prime Minister Narendra Modi.
“We understand the needs, risks and strengths of our Industries. If anyone has the capacity to make our country self-reliant at the earliest, it is our industries, and I have been emphasising this on various platforms”, he said. He described the setting up of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu as one of the many steps that reflects the government’s unwavering commitment to cater to needs of defence industries.
Listing out some of the initiatives of the government, Rajnath said the UPDIC will provide connectivity, resources and environment to defence companies and open up new opportunities. “Free Transfer of Technology by DRDO and increase in FDI limit up for access to cutting edge technologies of the world are some of the steps taken by us to promote use of indigenous technology in the private sector,” he said.
The presence of industry representatives and other stakeholders in large numbers is an indication of a constructive dialogue between the government and other stakeholders in the defence industry, he said.