Aims of defence policy
The policy says the vision is to make “India among the top five countries of the world in the aerospace and defence industries, with the active participation of the public and private sectors, fulfilling the objective of self-reliance as well as the demand of other friendly countries.”
30 lakh jobs
1. Turnover Rs. 1.7 lakh crore in defence goods and services
2. Attract Investment of Rs. 70,000 crore in defence sector
3. Exports of Rs. 35,000 crore “in defence goods and services by 2025”
4. Global leader in cyberspace and AI (Artificial Intelligence) technologies.
1. Further liberalization of Foreign Direct Investment (FDI), by permitting up to 74% FDI under the automatic route. At present, up to 49% FDI is allowed through the automatic route, though no significant investment has come into the sector.
2. ‘Make in India’
The policy aims to create an environment that “encourages a dynamic, robust and competitive defence industry as an important part of the ‘Make in India’ initiative”.
(Adapted from the Hindu)