Government to unveil key policy next month to make India defence manufacturing hub
New Delhi, August 02, 2018: The government is likely to unveil a major policy next month outlining a roadmap to build a robust defence production industry and make India one of the top five manufacturers of military equipment and platforms in the next 10 years.
Official sources said that final touches are being given to the policy before it is sent to the Union Cabinet for its approval.
They said a significant focus of the defence production policy (DPP-2018) will be to invest adequate resources to develop critical technology for manufacturing state-of-the-art military platforms including fighter jets, attack helicopters and weaponry indigenously.
The DPP-2018 is likely to be released next month, the sources said according to timesofindia.indiatimes.com
According to the draft policy, the government is looking at achieving a turnover of Rs 1,70,000 crore in military goods and services by 2025.
A Swedish think-tank, in a report in March, said India remained the largest importer of military hardware in the world in the last five years, adding Indian imports of major weapons rose by 111 per cent in the last five years compared to 2004-08.
