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The government has permitted <keyword id="44749" type="ORGANIZATION" weightage="20" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI) of up to 74 per cent under the automatic route in the defence sector with a view to attracting overseas investors, according to a press note issued by the DPIIT on Thursday. However, foreign investments in the defence sector would be subject to scrutiny on the grounds of national security and the government reserves the right to review any foreign investment in the sector that affects or may affect national security, the Department for Promotion of Industry and Internal Trade (DPIIT) said in the note. As per the current FDI policy, 100 per cent overseas investments are permitted in the defence industry -- 49 per cent under the automatic route, while beyond that government approval was required. According to the Press Note 4 (2020 series): "FDI up to 74 per cent under automatic route shall be permitted for companies seeking new industrial licences". It also said that infusion of fresh investment up to 49 per cent, in a company not seeking industrial licence or which already has government approval for FDI in defence, shall require "mandatory" submission of a declaration with the defence ministry in case change in equity/shareholding pattern or transfer of stake by existing investor to new foreign investor for FDI up to 49 per cent, within 30 days of such change. Proposal for raising FDI beyond 49 per cent from such companies will require government approval, it added. "The decision will take effect from the date of FEMA (Foreign Exchange Management Act) notification," it said. The decision to permit up to 74 per cent FDI in the <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> through the automatic route was announced by Finance Minister Nirmala Sitharaman in May while announcing the fourth tranche of the Rs 20 lakh crore stimulus package for the coronavirus-hit economy. In July 2018, the government had relaxed foreign direct investment norms in the defence sector by allowing up to 49 per cent FDI under the automatic route. The move was aimed at boosting domestic industry as India imports about 70 per cent of its military hardware. According to the DPIIT data, defence industries has received FDI equity inflows of USD 9.52 million (Rs 56.88 crore) during April 2000 and March 2020. Under the government route, foreign investors have to take prior approval of the respective ministry/department, while in the automatic route, the investor just has to inform the RBI after the investment is made. Total FDI into India increased by 18 per cent to USD 73.45 billion in 2019-20. SEE ALSO: <a href="https://www.businessinsider.in/sports/news/dailyhunt-app-founders-confirm-ipl-2020-associate-sponsorship/articleshow/78169667.cms">EXCLUSIVE: Dailyhunt founders confirm IPL 2020 associate sponsorship — promise new release for Josh ahead of India’s biggest cricket tournament</a> <a href="https://www.businessinsider.in/stock-market/markets/news/hcl-tech-enters-the-list-of-top-10-most-valued-companies-in-india/articleshow/78165311.cms">HCL Tech enters the list of top 10 most valued companies in India</a> <a href="https://www.businessinsider.in/science/space/news/first-intact-planet-found-circling-a-dead-star-this-jupiter-sized-anomaly-is-in-orbit-rather-than-being-pulled-apart-at-the-seams/articleshow/78166938.cms">First 'intact' planet found circling a dead star — this Jupiter-sized anomaly is in orbit rather than being pulled apart at the seams</a>

Foreign investors can now pump in up to 74 % FDI under automatic route in India's defence sector

New Delhi, Nov 29 () The UK India Business Council (UKIBC) on Friday announced the establishment of the Aerospace and Defence Industry Group to boost bilateral cooperation in the areas.
 "This initiative recognises that the UK-India relationship in aerospace and defence is at a critical turning point and is another demonstration of the close ties between Indian and UK industry," UKIBC said in a statement.
 It stated that in 2019, a memorandum of understanding on 'defence technology industrial capability cooperation' was signed between the UK and India which highlighted the UK government's approach towards enhancing cooperation with India, and the defence vertical is an example of how this cooperation is being taken to a new level.
 "The Aerospace and Defence Industry Group will support and build on the huge opportunities for collaboration that exists between the defence industries of the UK and India. The collaboration will not only advance India's defence acquisition process but also foster long-term technology and hardware transfers," UKIBC Vice-Chair Richard McCallum said.
 "We support the Government of India's Make in India initiative and believe that the Aerospace and Defence Industry Group can contribute to India's continued emphasis on defence modernisation and sophisticated military capabilities, which will be a win-win for both the UK and India," he added.
 The Group has been formed after suggestions of the Defence and Security Organisation and with the support of the UK Defence Solutions Centre, ADS Group Ltd, the Department for International Trade, and industry.
 The core members of the group include Rolls-Royce, BAE systems, Thales UK, MBDA, Leonardo, TVS Logistics, PEXA, Pattonair and Cranfield University. RSN HRS

UKIBC launches Aerospace and Defence Industry Group

<ul><li><keyword id="7706628" type="General" weightage="20" keywordseo="Defence-Minister-Rajnath-Singh" source="Orion">Defence Minister Rajnath Singh</keyword> on Saturday said the government is working and committed to increasing the <keyword id="15812191" type="General" weightage="20" keywordseo="defence-production-target" source="Orion">defence production target</keyword> from the current $12 billion to $22 billion by 2025.</li><li>The government is also working to provide market access to the domestic industry to make them Aatmanirbhar.</li><li>Defence Minister said, India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies.</li></ul>Defence Minister Rajnath Singh on Saturday said the government is working and committed to increasing the defence production target from current $12 billion to $22 billion by 2025. "You (industry) can imagine, with this kind of growth, how many opportunities will be available for the Indian industry," the Defence Minister said while addressing <keyword id="15812194" type="General" weightage="20" keywordseo="FICCIs-95th-Annual-Convention" source="Orion">FICCI's 95th Annual Convention</keyword> &amp; AGM here. He further underlined that to increase the participation of domestic industry, the government has reserved a certain portion of defence capital acquisition for domestic procurement. "Out of the total defence capital budget outlay, 68 per cent of it is reserved for indigenous procurement by domestic industry and 25 per cent for the private sector. The results of these have now started appearing and more measures will be announced soon," he emphasised. The government, he said, is also working to provide market access to the domestic industry to make them Aatmanirbhar. Singh said that in the last few years, there has been a continuous increase in defence exports. The government has already taken a series of steps including simplifying the FDI norms which have been increased to 74 per cent via automatic route and 100 per cent via government route, he added. The Defence Minister also urged the domestic industry and foreign Original Equipment Manufacturers to invest in Indian defence sector by focusing on R&amp;D, bringing in newer technologies and capital. He added that India is making defence products not just for the domestic market but also to meet the global requirements. "The world is waiting for the products made in India," he claimed. India has moved from the group of 'fragile 5' economies to 'fabulous 5 world economies' in the last nine years and registered itself as one of the fastest growing economies, the Defence Minister said on the occasion. Sanjiv Mehta, President, FICCI, thanked the government for ushering in reforms in the process of defence acquisition and facilitating ease of doing business through the revision of the DPP 2016 as DAP 2020 and assured Industry's unstinted support for achieving the goal of 'Aatmanirbhar Raksha Utpadhan'. Subhrakant Panda, President-Elect, FICCI said that the government's focus on 'Make In India' and 'Make for the World' is an impressive strategic move towards shedding its historical status of one the largest importer of defence equipment to a net exporter. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/gst-council-meet-decriminalisation-tax-evasion-in-pan-masala-gutkha-biz-on-agenda/articleshow/96297108.cms">GST Council meet: decriminalisation, tax evasion in pan masala, gutkha biz on agenda</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/international/news/ukraines-2nd-largest-city-without-power-after-russian-strikes/articleshow/96294790.cms">Ukraine's 2nd largest city without power after Russian strikes</a>

Govt committed to achieving defence production target of $22 bn by 2025: Rajnath

(Eds: Recasts overnight story) Lucknow, Feb 5 () With the aim to showcase India's potential as a global defence manufacturing hub, the biennial DefExpo will kickstart in Lucknow on Wednesday.The 11th edition of DefExpo promises to bring new technologies and solutions on a single platform for defence manufacturing firms from India and abroad. The main theme of the Expo is 'India: The Emerging Defence Manufacturing Hub' and the focus will be on 'Digital Transformation of Defence'.Prime Minister Narendra Modi will formally inaugurate the event, which will be followed by a live demonstration of naval systems, aero systems and land systems.Defence Minister Rajnath Singh said delegates from 70 countries and 172 foreign military manufacturers will attend the five-day mega exhibition. As many as 856 Indian defence firms will also showcase their products."We want to make India a hub of defence manufacturing. The DefExpo is a step in this direction," Singh said.Reflecting on the government's focus on 'Make in India', the DefExpo 2020 would offer an opportunity for the Indian defence industry to showcase its capabilities and promote its export potential.Uttar Pradesh Chief Minister Yogi Adityanath said his government has been encouraging defence manufacturing in the state. He said two Dornier aircraft of aerospace major Hindustan Aeronautics Ltd will be used by the state government for civil purposes on two routes.It will be for the first time that the 19-seater aircraft will be used by a state government for civilian purposes.Ministers from over 40 countries will take part in this edition of DefExpo, making it an important opportunity for countries to further strengthen defence ties with India, the defence minister said.The fifth India-Russia Military Industry Conference will also be held on the sidelines of DefExpo with over 100 Russian and over 200 Indian industry leaders expected to participate. MPB NAV SMI ASK RDM ABHABH

DefExpo to focus on showcasing India's potential to become manufacturing hub

<ul><li>Defence minister <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> announced that India and South Korea may be singing some new deals during the <keyword id="8154465" type="UNKNOWN" weightage="20" keywordseo="DefExpo-2020">DefExpo 2020</keyword>. </li><li>He also emphasised the importance of artificial intelligence (AI) and its military applications. </li><li>Hanwha Defence, one of the South Korean companies which will present at DefExpo 2020, plans to bag $2.5 billion in new deals.</li></ul>Defence minister Rajnath Singh hinted that India and South Korea may partner to develop AI-enabled military technology at the <a href="https://www.businessinsider.in/news/defexpo-2020-will-have-france-russia-south-korea-israel-us-and-african-countries-wooing-indias-defence-sector-for-partnerships/articleshow/73903166.cms">DefExpo 2020</a>. The expo is set to kick off tomorrow in Lucknow. Although he didn't mention what expertise will be exchanged, he claims that the agreement will "leverage mutual strengths and digital application and other advanced technologies." <div type="twitter" handle="rajnathsingh" handlename="Rajnath Singh" image="http://pbs.twimg.com/profile_images/1135878027466817536/3CgrOBQw_normal.png" favoritecount="1027" retweetcount="145" status="We recognise the influence of Artifical Intelligence and digital technology in defence sector. The theme of DefExpo… https://t.co/ecdxT2plr2" createdat="1580798123000" id="1224582202937102337"></div>

 Singh met with South Korea's defence minister, Jeong Kyeongdoo-Doo in New Delhi earlier today. The countries exchanged a list of possible areas for defence cooperation. At the time of writing this article, the Korea Defence Industry Association, <keyword id="714632" type="ORGANIZATION" weightage="20" keywordseo="Korea-Aerospace-Industries">Korea Aerospace Industries</keyword> and Hanwha are the three South Korea defence manufacturers confirmed at the 5-day event. However, <a href="http://www.businesskorea.co.kr/news/articleView.html?idxno=40691">Business Korea</a> claims that ten companies, including LIF Nex1, will be present at the DefExpo. <div type="twitter" handle="rajnathsingh" handlename="Rajnath Singh" image="http://pbs.twimg.com/profile_images/1135878027466817536/3CgrOBQw_normal.png" favoritecount="889" retweetcount="144" status="I look forward to investment by RoK companies in Indian defence corridors. The Defence Corridors present excellent… https://t.co/sBiWozh67G" createdat="1580798077000" id="1224582008661168129"></div>

 "The outlook for Korea's defence industry has been murky for immediate and long-term. The Indian deal can be an impetus," a South Korean industry official told <a href="https://pulsenews.co.kr/view.php?year=2020&amp;no=40999">Pulse News</a>. For South Korea, India is the world's second-largest buyer of weapons having spent $13.9 billion in 2018 — and the DefExpo 2020 is the perfect opportunity for them to try and crack that shell. Not only is the expo the biggest defence industry event in Asia, but it's also the biggest one for India till date. <div type="image" title="rajnath1" msid="73933669" hostid="261" caption="&amp;lt;p&amp;gt;Indian defence minister Rajnath Singh meets South Korea&amp;#39;s defnce minister Jeong Kyeongdoo-Doo in New Delhi on Tuesday&amp;lt;/p&amp;gt;"></div>

 Hanwha aiming for $2.5 billion Currently, Hanwha collaborates with Larsen &amp; Toubro and the Indian Army to produce the K9 Vajra-T. As much as 80% of the tank is manufactured and produced in India. According to <a href="https://indiandefenceindustries.in/index.php/interview-hanwha-defexpo">Indian Defence Industries</a>, Hanwha is looking to more opportunities for collaboration — especially in ammunition and defence electronics. At DefExpo, Hanwha's main attraction will be its self-propelled Air Defence Gun Missile System along with other products like artillery systems K9/K10 and the K200 armoured personnel carrier. "We are planning to showcase Hybrid Biho at the exhibition for the first time to impress the Indian army officials," a <keyword id="8716513" type="UNKNOWN" weightage="20" keywordseo="hanwha-defense">Hanwha Defense</keyword> official told <a href="http://www.koreatimes.co.kr/www/tech/2020/01/693_281858.html">Korea Times</a>. "We hope it gets recognition for its excellent quality and brings a positive effect to the delayed contract process," he said. According to the local publication, the Korean defence giant is aiming to bag deals worth $2.5 billion at the exhibition. KAI is looking to the Indian Air Force Korea Aerospace Industries (KAI) is also looking to bag some new deals at the DefExpo 2020. It plans on putting its KT-1 basic training aircraft center stage in hopes of wooing the Indian Air Force. "Currently, the Indian air force is changing its basic trainers and we want to supply our planes there," a KAI official told <a href="http://www.koreatimes.co.kr/www/tech/2020/01/693_281858.html">Korea Times</a>. "We will showcase the FA-05, a light attack aircraft, and Korean Utility Helicopter named Surion too, but the KT-1 will be our main item at DefExpo 2020," he added. South Korean companies won't be the only ones competing for attention from the Armed Forces. The exhibition will feature international majors like Airbus, Dassault Aviation, Lockheed Martin and Thales. This will also be the first DefExpo to host an India-Africa Summit. Overall, there will be over 1.000 defence firms from over 40 countries present at the DefExpo 2020. See also: <a href="https://www.businessinsider.in/news/defexpo-2020-will-have-france-russia-south-korea-israel-us-and-african-countries-wooing-indias-defence-sector-for-partnerships/articleshow/73903166.cms">DefExpo 2020 will have France, Russia, South Korea, Israel, US, and African countries wooing India's defence sector for partnerships</a> <a href="https://www.businessinsider.in/defense/news/india-defence-expenditure-in-2020/articleshow/72822974.cms">India's ready to spend on defence — just not on modernisation</a>

India will be picking up AI-enabled military tech from South Korea at the DefExpo 2020

India is preparing country-wise profiles of defence products and platforms to promote their exports and the government will stand "side by side" with the domestic industry in this endeavour through diplomatic channels, a senior Defence Ministry official said Monday. Raj Kumar, secretary, Department of Defence Production, said at a webinar that the domestic defence industry will hold web interactions with the representatives of friendly countries to figure out what kind of products and platforms they require. "We are preparing country-wise profiles of products, weapons and platforms which are probably needed by our friendly countries. So we are now planning to start web interaction led by the industry," Kumar said. "That country's defence attache, our DPSUs (defence public sector undertakings), industry, will then figure out what is in the store for us to promote there for exports," he said. Kumar said the government will be standing side by side with the domestic industry through its defence attaches, embassies and diplomatic channels to promote exports. To promote indigenous production, the Defence Ministry on August 9 announced restrictions on import of 101 weapons and military platforms including light combat helicopters, conventional submarines and cruise missiles under a staggered timeline till 2024. Kumar said a second list of import-restricted defence items will be notified soon. "This is the first list we are examining and then a second list will also come. We expect you (industry) to come forward and start investing to meet our requirements," he said at the webinar -- "Army Make Projects 2020" -- organised by FICCI. The senior official said as successful domestic bidders move to the defence equipment production stage, his department will share their details with the UP and Tamil Nadu defence corridor authorities, who "will compete in attracting your units to their respective states". He said since the three services are making efforts to push the "Make II" category of defence production projects, he will interact with project participants to understand their concerns and share best practices among the services. As secretary of the Department of Defence Production, Kumar heads the collegiate committee that approves the "Make II" category of projects. Under the Make II category, no government funding is given to the Indian company for the prototype development process. If a prototype developed by the company meets the standards set by the armed forces, an order is placed for such equipment or platforms. "Everything, whether it is defence industrial corridor, or whether it is defence production and export promotion policy, or whether it is a negative list - everything works in the same direction that we have to be among the top producers of defence items," he said. On August 9, Defence Minister Rajnath Singh said the ministry was now ready for a "big push" to indigenous defence manufacturing in tune with Prime Minister Narendra Modi's call for an "Atmanirbhar Bharat" (Self-Reliant India). India is one of the most lucrative markets for global defence giants. The country has figured among the top three global importers of military hardware for the last eight years. The Indian armed forces are projected to spend around USD 130 billion in capital procurement in the next five years. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-hcl-tech-wipro-and-likes-are-hoping-global-5g-race-resumes-next-year-bringing-some-large-deals-before-that/articleshow/77583638.cms">Tech Mahindra, HCL Tech, Wipro and likes are hoping global 5G race resumes next year⁠ — bringing some large deals before that</a> <a href="https://www.businessinsider.in/international/news/gaza-strips-only-power-plant-may-run-out-fuel-in-the-next-24-hours-following-israel-border-shut-warns-expert/articleshow/77584765.cms">Gaza Strip's only power plant may run out fuel in the next 24 hours following Israel border shut, warns expert</a> <a href="https://www.businessinsider.in/tech/apps/news/the-heat-is-on-mark-zuckerberg-in-india-as-facebook-and-whatsapp-incur-the-ire-of-modis-rivals/articleshow/77575358.cms">The heat is on Mark Zuckerberg in India as Facebook and WhatsApp incur the ire of Modi's rivals</a>

After import embargo, India is creating country profiles for its defence exports

India has set a target to achieve a turnover of Rs 1.75 lakh crore ($25 billion) including export of Rs 35,000 Crore ($ 5 billion) in aerospace and <keyword id="8127101" type="UNKNOWN" weightage="20" keywordseo="defence-goods">defence goods</keyword> and services by 2025. This is part of the <keyword id="9693161" type="UNKNOWN" weightage="20" keywordseo="draft-defence-production">draft Defence Production</keyword> and Export Promotion Policy (DPEPP 2020) announced on Sunday. Defence Minister <keyword id="6355121" type="PERSON" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> announced the draft policy through a tweet on Monday. "In order to provide impetus to self-reliance in Defence manufacturing and to position India amongst the leading countries of the world in Defence and Aerospace sectors, a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) has been formulated," he said. In implementing such framework and to position India amongst the leading countries of the world in defence and aerospace sectors, <keyword id="6369097" type="COMPANY" weightage="20" keywordseo="ministry-of-defence">Ministry of Defence</keyword> (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020). The DPEPP 2020 is envisaged as overarching guiding document of MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports. The policy proposes to develop a dynamic, robust and competitive defence industry, including <keyword id="9694649" type="COMPANY" weightage="20" keywordseo="aerospace-and-naval-shipbuilding">aerospace and naval shipbuilding</keyword> industry to cater to the needs of armed forces with quality products. It also seeks to reduce dependence on imports and take forward "Make in India" initiatives through domestic design and development. The policy's aim is to promote export of defence products and become part of the global defence value chains. It emphasizes creation of an environment that encourages R&amp;D, <keyword id="9694650" type="UNKNOWN" weightage="20" keywordseo="rewards-innovation">rewards innovation</keyword>, creates Indian IP ownership and promotes a robust and self-reliant defence industry. The policy brings out multiple strategies under the focus areas of procurement reforms, indigenization and support to MSMEs/startups, optimize resource allocation, investment promotion, FDI and Ease of Doing business, innovation and R&amp;D, DPSUs and OFB, quality assurance and testing infrastructure and export promotion. The vision as stated in the policy is "To make India amongst the leading countries of the world in Defence sector, including Aerospace and Naval Shipbuilding sectors, from design to production, with active participation of public and private sector and thus fulfilling the twin objectives of self-reliance and exports". SEE ALSO: <a href="https://www.businessinsider.in/tech/news/mark-zuckerberg-and-jeff-bezos-got-14-billion-richer-in-a-single-day-as-facebook-and-amazon-shrugged-off-the-coronavirus-recession/articleshow/77333152.cms" data-type="tilCustomLink">Mark Zuckerberg and Jeff Bezos got $14 billion richer in a single day as Facebook and Amazon shrugged off the coronavirus recession</a> <a href="https://www.businessinsider.in/business/corporates/news/dgca-asks-spicejet-to-stop-ticket-sale-offer-as-govt-imposed-fare-limits-are-in-place/articleshow/77333769.cms" data-type="tilCustomLink">DGCA asks SpiceJet to stop ticket sale offer as govt-imposed fare limits are in place</a>

Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025

India is ready to supply various weapons systems, including missiles and <keyword id="1706372" type="COMPANY" weightage="20" keywordseo="electronic-warfare-systems">electronic warfare systems</keyword>, to countries in the Indian Ocean Region (IOR), Defence Minister <keyword id="6355121" type="UNKNOWN" weightage="20" keywordseo="Rajnath-Singh">Rajnath Singh</keyword> said on Thursday. Delivering his keynote address at the IOR Defence Ministers' Conclave here, he said organising a conclave of countries in the IOR on the margins of the international event "Aero India-2021" shows the importance India attaches to the vision of common growth and stability, and constructive engagements with them. "Our efforts are to synergise the resources and efforts in the Indian Ocean, including, defence Industry industrial cooperation amongst participating countries," Singh said. Many of the IOR countries are becoming globally competitive and are developing new technologies, including defence shipyards for design and shipbuilding, which can be jointly harnessed through regional cooperation efforts, the Minister said. He said the Indian aerospace and defence industries present an attractive and significant opportunity for foreign companies across the supply chain to take their cooperation to newer levels. "India is ready to supply various types of Missile systems, Light Combat Aircrafts/Helicopters, Multi-Purpose Light Transport aircraft, Warship and Patrol Vessels, Artillery Gun systems, Tanks, Radars, Military Vehicles, Electronic Warfare Systems and other weapons systems to IOR countries," he said. SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/isro-will-transform-in-2021-as-india-pumps-big-money-to-draw-in-startups-for-the-second-space-age/articleshow/80683054.cms">ISRO will transform in 2021 as India pumps big money to draw in startups for the 'second space age'</a> <a href="https://www.businessinsider.in/politics/news/new-citizenship-law-pulls-india-down-in-the-democracy-rankings-and-2021-is-not-looking-better/articleshow/80671194.cms">New citizenship law pulls India down in the democracy rankings — and 2021 is not looking better</a> <a href="https://www.businessinsider.in/finance/banks/news/bank-unions-strongly-oppose-divestment-bad-bank-and-fdi-in-insurance-with-threats-to-go-on-strike/articleshow/80668430.cms">Bank unions strongly oppose divestment, a bad bank and threaten to strike</a>

India is ready to supply weapons systems to countries in Indian Ocean Region, claims Rajnath Singh

The <keyword id="6416832" type="ORGANIZATION" weightage="80" keywordseo="Ministry-of-Commerce-and-Industry">Ministry of Commerce and Industry</keyword> today said that steps taken to boost defence manufacturing would encourage foreign companies to invest more in India. The government withdrew excise and customs duty exemptions enjoyed by the <keyword id="594435" type="ORGANIZATION" weightage="80" keywordseo="Ordinance-Factory-Board">Ordinance Factory Board</keyword> and defence PSUs to provide a level-playing field to private players. 
 

	"This will provide a level-playing field...by taking away the strategic advantage with PSUs for quoting lower rates in open bids,” as per a PTI report. "With this initiative, the government has also fulfilled demand of foreign Original Equipment Manufacturers (OEMs) such as Boeing, Airbus, <keyword id="112859" type="CITY" weightage="80" keywordseo="Lockheed-Martin">Lockheed Martin</keyword>, BAE Systems etc which are actively exploring the scope of future <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> in India," according to a statement issued by the Ministry of Commerce and Industry. 

	The statement further said the move would also send a definitive message to foreign OEMs that India is open to business and investment for defence manufacturing. Moreover, defence manufacturing is one of the key sectors among the 25 sectors identified under the Make-in-India campaign, an initiative by the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>. 
	 

	India is the highest importer of defence equipments in the world. Therefore, Indian aerospace and defence market attract many global players. The government has systematically opened up the sector for private investment by increasing Foreign Direct Investment (<keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword>) cap in defence of up to 49% and rationalising certain conditions. 
	 

	"A number of initiatives have been taken by the new government to incentivise the private sector, including foreign OEMs, to engage in the Defence and Civil Aerospace sector," as per the statement issued by the ministry. 
	 

	It added that a series of consultations have been held across ministries and departments to enable simplification of rules and procedures to promote private participation in defence manufacturing and exports. 
 

	(Image: Indiatimes)

Govt. provides private firms level-playing field with defence PSUs to boost manufacturing

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword>'s <keyword id="19938893" type="General" weightage="20" keywordseo="defence-exports" source="keywords">defence exports</keyword> have surged from Rs 15 billion in 2017 to Rs 210 billion in 2024, registering a CAGR of 46 per cent, highlighted a report on 'Defence Conference 3.0' by Antique Stock Broking. The report stated that the <keyword id="20861069" type="General" weightage="20" keywordseo="global-shift" source="keywords">global shift</keyword> towards a China+1 strategy and the impact of the <keyword id="20016971" type="General" weightage="20" keywordseo="Russia-Ukraine-war" source="keywords">Russia-Ukraine war</keyword> offer India additional opportunities to fill supply chain gaps, potentially boosting its share in the <keyword id="23046732" type="General" weightage="20" keywordseo="global-defence-industry" source="keywords">global defence industry</keyword>. The report noted that the country's long-term goal is to become a global defence manufacturing hub is driven by Defence Public Sector Undertakings (DPSUs), private enterprises, start-ups, and MSMEs. "Indian defence exports have grown multi-fold from INR 15 bn in 2017 to INR 210 bn in 2024 at a CAGR of 46%. The China + 1 strategy and the Russia-Ukraine war provides an additional opportunity for India to fill the gap created in the supply chain and hence increase its contribution to the global defence industry," the report read. The report added that to achieve this target a well-developed domestic ecosystem is crucial as lower import content in products accelerates approvals by reducing international conflicts. The report added that the Ministry of Defence has taken key initiatives to attract Indian private players and global Original Equipment Manufacturers (OEMs) include establishing aerospace parks and defence corridors, fast-tracking project approvals, and enhancing development and testing facilities. Highlighting the potential in India's Maintenance, Repair, and Overhaul (MRO) segment the report explained that it holds a significant potential for global aerospace companies due to its technical expertise and cost-competitive solutions. "India provides a huge opportunity in the <keyword id="23046733" type="General" weightage="20" keywordseo="MRO-segment" source="keywords">MRO segment</keyword> for global aerospace leaders given the expertise the country provides as well as the cost efficiency solutions compared to its global competitors" the report added. India aims to increase domestic defence turnover to Rs 3 lac crore by 2029, Rs 500 billion targeted for exports. This growth will help reduce the Government of India's import bill as India remains the world's largest importer of defence equipment. Under the Atmanirbhar Bharat initiative of the government, 75 per cent of the defence capital outlay is now reserved for domestic players, up from 49 per cent in FY21. Given the geopolitical challenges and modernisation needs of its Armed Forces, the report added that India plans to invest Rs 8.3 lac crore in domestic procurement, offering substantial business opportunities for local companies. "India intends to place orders worth INR 8.3 trn through domestic procurement and thus it presents a massive business opportunity for local players" it added. As per the Ministry of Defence, India's defence manufacturing sector has witnessed an increase of 16.8 per cent in the fiscal year 2023-24. This significant increase marks the highest-ever growth in the country's defence production value. The total value of defence production reached Rs 1,26,887 crore this year, up from the previous year's figures.

India's defence exports surge to Rs 210 billion after global shift towards China+1, Russia-Ukraine war: Report

The Confederation of Indian Industries (<keyword id="6358345" type="ORGANIZATION" weightage="100" keywordseo="CII">CII</keyword>) has welcomed the central government's move to raise the limit on <keyword id="44749" type="ORGANIZATION" weightage="100" keywordseo="Foreign-Direct-Investment">foreign direct investment</keyword> (FDI) in the <keyword id="32723" type="COMPANY" weightage="100" keywordseo="Defence">defence</keyword> sector. 
 "FDI is directly linked with core national priorities such as raising manufacturing growth to 25% of the <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword>, significant job creation and bringing high-end technology into the country. The associated benefits are the spin-offs for the civilian market,” a CII statement said. 
 
CII is keen to see high-tech system integration work being done in India and it is ready to take this challenge and opportunities. Opening up various sectors have helped the growth of industry. 
 
The manufacturing sector in the country has grown in the last two decades, riding on robust domestic demand and increasing private participation. India has already made its mark in the automobile sector with a number of auto brands across the world sourcing from India, the statement said. 
 
At present, the defence sector contributes between 2.5% and 3% of the global GDP but India's share is too low. India can leverage its purchasing power, IT infrastructure and manufacturing potential to be one of the key global manufacturing hubs for defence systems and equipment, the CII noted. 
 
Raising FDI in the defence sector will create more opportunities in the country. CII said it would endorse the government's initiatives of linking FDI with exports. It also stressed on the need to revisit the export policy and recommended that policies should be industry-friendly and less ambiguous.

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