Self-confidence in defence sector important for Atmanirbhar Bharat: PM Modi

New Delhi [India], Aug 27 (ANI): Prime Minister Narendra Modi said on Thursday that the government has made efforts to unshackle defence production sector so that more equipment is produced in the country, new technology is developed and there is an expansion of the private sector.
Addressing the Defence Industry Outreach Webinar organised by Federation of Indian Chambers of Commerce and Industry (FICCI) and Defence Ministry, he said self-confidence in the defence sector is very important for making an Atmanirbhar Bharat (self-reliant India).
Defence Minister Rajnath Singh and Chief of Defence Staff (CDS) General Bipin Rawat also took part in the event.
The Prime Minister said that the size of procurement orders from the domestic industry is going to increase in the coming days.
"For many years, India has been one of the biggest defence importers. 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. For making a modern and Atmanirbhar Bharat, there should be a feeling of self-confidence in the defence sector," the Prime Minister said.
He said the need for appointing a Chief of Defence Staff (CDS) was being felt for a long time but the decision was not made. "The decision (to appoint CDS) is a symbol of the new India's self-confidence," he said.
He said that allowing 74 per cent foreign direct investment (FDI) in defence sector and corporatisation of Ordnance Factory Boards (OFBs) were among steps taken by the government to boost defence manufacturing.
He said a portion of the Defence Ministry's capital budget has been earmarked for equipment made in India.
"The list of 101 equipment for domestic purchase only will be expanded further. The purpose of this list is to boost the industries in the country," Modi said.
He also thanked the three wings of the armed forces for their proactive support in ensuring domestic purchases.
The Prime Minister stressed on the need for research and development in the defence sector at industry and academic institutions also.
"Our government has worked on the principle of reform, perform and transform. Decreasing red tape and extending red carpet has been our endeavour," he said.
He said that the feedback received from industrialists and others during such meetings would help in the process of making India self-reliant. (ANI)