India’s defence sector is moving ahead with transparency, predictability & ease of doing business: PM

Last Updated: Monday, February 22, 2021, 03:52
India’s defence sector is moving ahead  with transparency, predictability & ease of doing business: PM
The Prime Minister Narendra Modi addressed the webinar on effective implementation of the Union Budget provisions in the defence sector today. In his address, the Prime Minister said that the webinar assumes great significance as it is focusing on the important issue of making the country’s defence sector self-reliant. Narendra Modi said that there used to be hundreds of ordnance factories before independence. In both the world wars, weapons at large scale were exported from India. But, for many reasons, this system has not been strengthened as much as it should have been after independence.

The Prime Minister said that a part has been reserved for domestic procurement even in the capital budget of defence. He urged the private sector to come forward and take up both designing and manufacturing of the defence equipment so that Indian flag can be kept flying high on the global stage. He said that MSMEs work as a backbone for the entire manufacturing sector. The reforms that are taking place today are giving more freedom to MSMEs and encouragement to expand. The Prime Minister said that the defence corridors that are being built in the country today will also help local entrepreneurs and local manufacturing. That is, today, self-sufficiency in our defence sector has to be seen as the empowerment of these two fronts – “Jawan as well as Youth”.
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