Current AffairsIndia

Our work for ‘Aatmanirbhar Bharat’ will boost India’s ability of being net security provider in Indian Ocean: PM

New Delhi: Prime Minister Narendra Modi on Thursday said that efforts are being made to boost defence production in the country in line with the NDA government efforts to achieve an ‘Atmanirbhar Bharat ‘(self reliant India) and expressed his government’s commitment to provide better ecosystem to defence equipment makers.

Addressing an event, through video conferencing, on making India self-reliant in the defence sector, the PM said the government aims to increase defence manufacturing in India, develop new technology and give big role to private players in defence sector.

The PM said that achieving self reliance in the defence sector will boost India’s ability of being net security provider in Indian Ocean.

‘For many years, India has been one of the biggest defence importers. When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get requisite attention.

The government aims to increase defence manufacturing in India. Efforts being made to boost defence production, develop new technology and give big role to private players in defence sector. A decision has been taken to permit up to 74% FDI (foreign direct investment) in the defence manufacturing through automatic route,’ the PM said.

The PM said that import embargo on certain defence equipment is aimed at giving boost to Indian defence industry.

He said that India’s resolve for ‘Aatmanirbhar Bharat’ is not inward-looking, but for making India capable and boosting global peace and economy.

‘Our work for ‘Aatmanirbhar Bharat’ will also boost India’s ability of being net security provider in Indian Ocean,’ he said.

The PM said that the reform exercise undertaken by his government to realize the goal of ‘Atmanirbhar Bharat ‘ would not stop.

‘We also saw labour reforms recently. The reform exercise is not going to stop now. They will continue and we will not be tired from it,” PM said.

He also added that it’s a win-win situation for both private and public sectors.

The prime minister further added India has potential to become trusted defence equipment exporter to friendly nations

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