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.

Officials said the aim of the DPP would be to indigenously develop all major platforms which are being imported since since the last six decades.

According to the official figure, India inked 187 contracts  contracts worth Rs 2.40 lakh crore with foreign and domesticfirms for various military equipment and weapons in the last four years. However, majority of the projects are yet to take off due to procedural delays.

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