Addressing the Atmanirbhar Bharat Defence Industry Outreach Webinar’ through video conference, Prime Minister Narendra Modi said that the Centre is aiming to increase Defence manufacturing in India. The PM also said that the government has taken a decision to allow up to 74% FDI in the defence manufacturing through an automatic route.

“When India got independence, it had a great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get requisite attention,” he said.

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Earlier in the meeting, Chief of Defence Staff Gen Bipin Rawat had said that nothing will give the armed forces greater satisfaction than fighting and coming out victorious in wars with indigenous technology and equipment.

“Our aim is to break all chains that restrict domestic defence manufacturing,” PM Modi said. He also said that efforts are being made to boost defence production, develop new technology and give a big role to private players in defence sector.

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The government has already detailed its broad roadmap to make India a hub of defence manufacturing. It has also been taking policy initiatives to promote the domestic defence industry.

On August 9, Defence Minister Rajnath Singh announced that India will stop the import of 101 weapons and military platforms like transport aircraft, light combat helicopters, conventional submarines, cruise missiles and sonar systems by 2024.