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New Delhi: The decision of the <keyword id="20330004" type="General" weightage="100" keywordseo="Defence-Acquisition-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="Defence Acquisition Council" meta.hostid="261" meta.entityid="Defence Acquisition Council">Defence Acquisition Council</keyword> (DAC) to accept 10 <keyword id="22515789" type="General" weightage="20" keywordseo="capital-acquisition" source="keywords">capital acquisition</keyword> proposals worth Rs 1.4 trn will not only boost <keyword id="23034601" type="General" weightage="20" keywordseo="domestic-defence-manufacturing" source="keywords">domestic defence manufacturing</keyword> but will contribute to the growth of the <keyword id="20362868" type="General" weightage="20" keywordseo="PSU-companies" source="keywords">PSU companies</keyword> in the defence sector, highlighted a report by Antique Stock Broking. The report noted that the growth of domestic defence manufacturing in the country has picked up significantly over the last few years and is expected to grow further in the future. It added that the government's focus on enhancing domestic capabilities is evident from its initiatives in FY24, where Acceptance of Necessity (AoN) was accorded to proposals worth approximately Rs 3.61 trillion under various capital procurement categories. These initiatives are in line with the Defence Acquisition Procedure (DAP) 2020, which strongly promotes domestic manufacturing. "The government, in FY24, accorded Acceptance of Necessity (AoN) to proposals worth approximately INR 3.61 trn under various categories of capital procurement, which promotes domestic manufacturing as per DAP-2020" said the report. A significant milestone highlighted in the report is the remarkable increase in the share of domestic procurement in India's defence sector. The share has improved from 54 per cent in FY19 to 75 per cent in FY24. The report noted that this trend is expected to strengthen further, driven by the fact that more than 99 per cent of the announced proposals are to be sourced from the domestic industry under the "Buy (Indian)" and "Buy (Indigenously Designed, Developed, and Manufactured)" categories. "The total share of domestic procurement has seen a phenomenal improvement from 54% in FY19 to 75% in FY24 and is expected to improve further. The report stated that the DAC's (Defence Acquisition Council) approval of proposals worth Rs 1.45 trillion is aimed at enhancing the operational capabilities of the Indian Armed Forces. The report further emphasizes that with Rs 1.45 trillion worth of projects already approved in the year-to-date FY25, the <keyword id="20994345" type="General" weightage="20" keywordseo="defence-PSUs" source="keywords">defence PSUs</keyword> are poised for strong growth in the near to long term. "With approval for Rs 1.45 trn worth of projects in YTDFY25, we believe defence PSUs have strong growth opportunities in the near to long term" the report added. The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Rajnath Singh on Tuesday accorded Acceptance of Necessity (AoN) for 10 capital acquisition proposals amounting to Rs 1,44,716 crore. Of the total cost of AoNs, 99 per cent is from Indigenous sources under the Buy (Indian) and Buy (Indian-Indigenously Designed Developed and Manufactured) categories, the Ministry of Defence stated. For the modernisation of the tank fleet of the Indian Army, the proposal for procurement of Future Ready Combat Vehicles (FRCVs) has been cleared. The FRCV will be a futuristic Main Battle Tank with superior mobility, all-terrain ability, multilayered protections, precision and lethal fires over and real-time situational awareness, the release stated. The AoN was also accorded for procurement of Air Defence Fire Control Radars, which will detect and track aerial targets and provide firing solutions. The proposal has also been approved for Forward Repair Team (Tracked) which has suitable cross-country mobility for carrying out in-situ repair during mechanised operations.

DAC capital acquisition of Rs 1.4 trn to boost defence PSUs: Report

<keyword id="6354785" type="General" weightage="20" keywordseo="france" source="Orion">France</keyword> wants to be <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword>'s "best partner" in boosting its <keyword id="2377476" type="General" weightage="20" keywordseo="defence-manufacturing" source="Orion">defence manufacturing</keyword> and has decided to share the <keyword id="15204665" type="General" weightage="20" keywordseo="best-technologies-and-equipment" source="Orion">best technologies and equipment</keyword> in sync with the growing "trust" between the two sides, French Ambassador Emmanuel Lenain has said. Without divulging specific details, the envoy said French and Indian companies are working together on "equipment of the future", platforms and engines. "I do not think any country provides India with the same level of technology. The progress is also due to the fact that we recognise that India wants to boost its strategic autonomy, wants to build its industrial base and we want to be India's best partner in this move," he told PTI. Indo-French strategic ties have been on a major upswing after India inked an inter-governmental agreement with France in September 2016 for the procurement of 36 Rafale jets at a cost of around Rs 59,000 crore. "Defence has always been a very strong component of our cooperation because there is a lot of trust between our two countries. When you want to work on these issues, you need trust because you commit yourself for 10, 20, 30 years," Lenain said. "This trust is the main asset that we have. Defence cooperation has been developing very well because we are very comfortable with India and we have decided that we could share our best technology, state-of-the-art equipment, best-in-class technology," he said. The two sides are now looking at further bolstering the strategic partnership in view of the evolving global geo-political landscape triggered by the crisis in Ukraine and developments in the Indo-Pacific region. "From the beginning, we were the best partners in the Make-in-India policy. Now that India is switching to the Atma Nirbhar policy, we are also there for India," Lenain said. He said France is ready to co-develop equipment with India and share know-how. "Our companies are working together on the equipment of the future, on engines, on different sorts of equipment. It is very positive for both industries," he said. Lenain chose not to give a direct reply when asked about the possibility of the Indian Air Force procuring additional Rafales and whether France was also looking at supplying the naval version of the jet to the Indian Navy. "We are talking, and again, we are very much willing to provide state-of-the-art equipment. Everything is on the table and we do our best," he said. French aerospace major Safran has already set the ball rolling to set up its biggest maintenance repair and overhaul (MRO) facility in Hyderabad with an investment of around USD 305 million. "It is a partnership of equals and it is a partnership to boost each other's strategic autonomy," Lenain said. Ways to expand defence and security cooperation figured during French Foreign Minister Catherine Colonna's visit to India last month. In December last year, Defence Minister Rajnath Singh said France has agreed to jointly build aircraft engine with India. In 2017, India unveiled the ambitious strategic partnership (SP) model to facilitate joint ventures between select private Indian firms and foreign defence majors to build military platforms like submarines and fighter jets in India. The SP model aims to create a vibrant defence manufacturing ecosystem in the country through joint ventures between Indian corporates and global defence majors. The government has initiated a series of measures in the last few years to boost domestic defence manufacturing. In March, the defence ministry said it plans to procure military equipment worth Rs five lakh crore from the domestic industries in the next five to seven years in line with its policy of promoting indigenous defence manufacturing. India has been one of the largest importers of arms globally. According to estimates, the Indian armed forces are projected to spend around USD 130 billion (one billion is equal to 100 crores) in capital procurement in the next five years. The government now wants to reduce dependence on imported military platforms and has decided to support domestic defence manufacturing. The defence ministry has set a goal of a turnover of USD 25 billion (Rs 1.75 lakh crore) in defence manufacturing in the next five years, including an export target of USD 5 billion worth of military hardware. SEE ALSO:

France wants to be India's best partner in defence manufacturing: French envoy Lenain

<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 <keyword id="32723" type="General" weightage="100" keywordseo="defence" source="Orion">defence</keyword> ministry has approved a fresh list of 928 components and subsystems which will only be procured from the domestic industry after a ban on their import kicks in under a staggered time-line of around five-and-half years. The ministry on Sunday said the aim of the move is in sync with the government's overall aim to promote 'Atmanirbharta' (self-reliance) in defence production. It is the fourth such "positive indigenisation list (PIL)" comprising line replacement units, sub-systems and components used for various military platforms, equipment and weapons. "To promote 'Aatmanirbharta' in defence and minimise imports by defence public sector undertakings, the <keyword id="6369097" type="General" weightage="50" keywordseo="ministry-of-defence" source="Orion">Ministry of Defence</keyword> has approved fourth Positive Indigenisation List (PIL) of 928 strategically-important line replacement units/sub-systems/spares and components, including high-end materials and spares, with import substitution value worth Rs 715 crore," the ministry said in a statement. The aim of the indigenisation list is also to minimise imports by the defence public sector undertakings (DPSUs). The defence ministry has set specific timelines for import ban of the items, spanning the period from December 2023 to December 2028. This list is in continuation to the three similar PILs that were brought out in December 2021, March 2022 and August 2022 "These lists contain 2,500 items which are already indigenised and 1,238 (351+107+780) items which will be indigenised within the given timelines," the ministry said. Of the 1,238, 310 items have been indigenised so far, it said. The items which were already indigenised comprised 262 from the first PIL, 11 from the second list and 37 from the third PIL, according to the ministry. "The DPSUs will undertake indigenisation of these items through different routes under 'Make' category and in-house development through the capabilities of MSMEs and private Indian industry, thereby providing impetus to the growth in economy, enhanced investment in defence and reduction in import dependence of DPSUs," the ministry said. "In addition, this will augment the design capabilities of the domestic defence industry by involving academia and research institutions," it said. In a tweet, Defence Minister <keyword id="6355121" type="General" weightage="50" keywordseo="rajnath-singh" source="Orion">Rajnath Singh</keyword> said the Narendra Modi government is committed towards indigenisation and ensuring self reliance in the defence sector. "Keeping this in mind, the 4th Positive Indigenisation List (PIL) of 928 strategically-important Line Replacement Units (LRUs)/Sub-systems/Spares and Components has been approved," he said. "The list includes high-end materials and spares, with import substitution value worth Rs 715 crore," Singh added. The ministry said DPSUs will soon initiate procurement action for these notified items. In the last few years, the government has taken a series of measures to promote domestic defence production. <keyword id="3658" type="General" weightage="20" keywordseo="india" source="Orion">India</keyword> is one of the largest importers of arms globally. According to estimates, the Indian armed forces are projected to spend around USD 130 billion in capital procurement over the next five years. The government now wants to reduce dependence on imported military platforms and has decided to support domestic defence manufacturing. The defence ministry has set a goal of a turnover of USD 25 billion (Rs 1.75 lakh crore) in defence manufacturing in the next five years which includes an export target of USD 5 billion worth of military hardware. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/govt-to-roll-out-lost-mobile-blocking-tracking-system-pan-india-on-may-17/articleshow/100224875.cms">Govt to roll out lost mobile blocking, tracking system pan-India on May 17</a> <a href="https://www.businessinsider.in/stock-market/markets/news/fpi-bought-equity-worth-rs-18617-crore-in-may/articleshow/100225129.cms">FPI bought equity worth ₹18,617 crore in May</a> <a href="https://www.businessinsider.in/business/telecom/news/pm-modi-wants-us-to-start-building-rd-around-6g-technology-cisco-coo/articleshow/100224961.cms">PM Modi wants us to start building R&amp;D around 6G technology: Cisco COO</a>

Govt approves 4th 'positive indigenisation list' of sub-systems to promote domestic defence industry

To expand the domestic <keyword id="2377476" type="PERSON" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword> ecosystem, a negative list of weapons and platforms would be notified with year-wise timelines for placing an embargo on import of such items from those dates. As per the draft <keyword id="9695994" type="UNKNOWN" weightage="20" keywordseo="defence-production-and-export-promotion-policy">Defence Production and Export Promotion Policy</keyword> (DPEPP 2020) announced on Monday, this list would be updated periodically, without compromising on the operational requirements of the Services, to allow lead-time to industry to prepare itself for any such procurement which is likely to come up, subsequent to the indicated embargo date. The policy proposes a Technology Assessment Cell (TAC) in coordination with the services, which would assess the industrial capability for design, development and production including re-engineering for production of various major systems like <keyword id="386104" type="PERSON" weightage="20" keywordseo="Armoured-Vehicles">armoured vehicles</keyword>, <keyword id="117400" type="PERSON" weightage="20" keywordseo="Submarines">submarines</keyword>, fighter aircraft, <keyword id="54022" type="PERSON" weightage="20" keywordseo="helicopters">helicopters</keyword>, radars with the major industries in the country. A Project Management Unit (PMU), with representation from the Services, would be set up to support the acquisition process and facilitate management of the contracts. This setup would bring in expertise to the process of acquisition as well as create focus and synergy in building military capabilities. With self- reliance as the motto, aim is to move away from licensed production to Design, Develop and produce wherein the Nation owns the Design Rights and IP of the systems. "Our Armed forces have over the years acquired a range of platforms from diverse sources leading to a buildup of spares and consumables which has resulted in sub-optimal planning and resource allocation. Efforts would be made to adopt a family of weapons approach to standardize and optimize inventory and supply chain management," the policy said. In addition, efforts would be made to provide the industry greater visibility into the likely opportunities in the defence sector. Understanding future capital acquisition priorities will enable industry to develop technologies, carry out necessary ground work and position themselves in an optimal manner to compete at the appropriate time. In order to enhance procurement from domestic industry, it is incumbent that procurement is doubled from the current Rs 70,000 crore to Rs 1,40,000 crore by 2025. In order to achieve this objective, it is proposed to carve out a distinct budget head for domestic capital procurement. The policy will also strive for enhancing allocation for domestic capital procurement at the rate of minimum 15 per cent per annum for the next five years. Various studies have over the years brought out the need to enhance cost effectiveness and improve efficiency in the use of MoD's resources. Efforts would be made to scrutinize, evaluate and optimize various items of expenditure in the Defence budget. The policy says that investment promotion would be encouraged to provide specific focus on certain identified segments and technological areas. Investments in aviation sector which help in co-development and strengthening defence ecosystem would be facilitated in association with the Ministry of Civil Aviation. Efforts would be made to address the identified gaps in those segments and offer incentives to global OEMs and domestic industry to set up design and manufacturing facilities in India. The investments in these segments would also be channelized by offering high multipliers through offsets obligations. Development of aero engines complex is a priority area. While significant improvements have been made, there are still critical gaps in the aero engine segment for future development programmes as well as for taking up the engine related MRO activities of the current inventory of platforms. The two Defence Corridors set up in Tamil Nadu and Uttar Pradesh would be specifically targeted by providing additional support as well as by offering higher multipliers for offset discharge for investments flowing into the Defence Corridors. SEE ALSO: <a href="https://www.businessinsider.in/defense/news/draft-defence-policy-aims-to-achieve-1-75-lakh-crore-turnover-by-2025/articleshow/77342252.cms">Draft defence policy aims to achieve ₹1.75 lakh crore turnover by 2025</a> <a href="https://www.businessinsider.in/defense/news/fresh-negotiations-between-military-commanders-from-india-and-china-starts-today-to-end-friction-in-ladakh/articleshow/77311439.cms">Fresh negotiations between military commanders from India and China starts today to end friction in Ladakh</a> <a href="https://www.businessinsider.in/defense/news/comparison-of-indias-rafale-fighter-jets-with-chinese-latest-j-20-fighter-jets/slidelist/77238828.cms">India’s Rafale fighter jets — Here’s how it stacks up against Chinese J-20</a>

India's new defence policy proposes a cell to re-engineer armoured vehicles, submarines, fighter aircraft, helicopters and more

<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

Encouraged by Modi government's pledge to upgrade the armed forces using domestic factories, Indian companies are pumping billions of dollars into manufacturing guns, ships and tanks for <keyword id="32723" type="COMPANY" weightage="100" keywordseo="Defence">defence</keyword> purpose. 
 Even before his election victory, Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> had promised to stress on India's military competence and meet the security challenges posed by the neighbours. 
 
Launching a domestic-built naval destroyer last week, Modi said, "My government has taken important steps in improving indigenous defence technology... We can guarantee peace if our military is modernised." 
 
"The opportunity is huge. We really expect quicker implementation. There are signs that this government is very keen to grow indigenisation," said MV Kotwal, president (Heavy Engineering) at Larsen and Toubro Ltd, one of India's biggest industrial houses. 
 
"The policy in India has been right since 2006. The problem has been implementation," said Rahul Chaudhry, CEO of Tata Power SED, which manufactures rocket launchers, sensors and radars.

Indian
Companies Gear Up For Defence Orders On Modi's 'Buy India' Pledge

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.

Industry Bats For FDI In Defence

Since the launch of ‘<keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make in India</keyword>’ program, considerable thrust has been given to <keyword id="2377476" type="UNKNOWN" weightage="20" keywordseo="defence-manufacturing">defence manufacturing</keyword>. Transformation from being one of the largest importers of arms into a credible defence equipment manufacturer takes a lot. 
 
Country’s defence spending is expected to go beyond USD 600 billion by 2022 and every private company indulged into defence manufacturing wants a pie of that, especially when USD 150 billion of contracts are there to be awarded within a few years. 
 
Current scenario of Imports: 
 
 
 
 
Some of the Indian Companies in Defence Sector: 
· Mazagon Dock Ltd 
· Mishra Dhatu Nigam Ltd 
· Mahindra Defence Systems with Bae Systems &amp; Seabird Aviation (Private Player) 
· Rolta ( A Private Player) 
· Tata Advanced Systems with Boeing,Sikorsky Aircraft Corporation &amp; Israeli Aerospace Industries 
· Ashok Leyland ( Private Player) 
· Bharat Dynamics Ltd 
· Bharat Earth Movers Ltd 
· Bharat Electronics Ltd ( BEL) 
· Bharat Forge 
· Electronics Corporation of India Ltd (ECIL) 
· Garden Reach Shipbuilders &amp; Engineers Ltd 
· Goa Shipyard Ltd 
· HCL with Boeing &amp; Circore Aerospace Inc (Private Player) 
· Hindustan Aeronautics Ltd ( HAL) 
· Reliance Defence 
 
Defence Manufacturing, Exports and its future: 
 
Indian exports are negligible when it comes to the total market share on a global level. India has exported defence equipment to 22 countries over last one year, including UK, US, Israel and Russia. India exported forging equipment, electronic assemblies, flight panel controls to the US. 
 
India exported transmitting tubes to UK and MIG &amp; Sukhoi 30 aircraft spares and services to Russia. India’s major exports included Cheetal helicopters to Afghanistan, Dhruv helicopters and bulletproof jackets to Nepal, Sukhoi avionics and MIG spares to Malaysia, offshore petrol vessels and ammunition to Mauritius and Jaguar aircrafts and spares to Oman. 
 
Indian private players are looking for foreign partners as the foreign direct investment in defence sector is pushed up to 49%. Reliance defence had signed a manufacturing and maintenance deal potentially worth $6 billion with Russia's Almaz-Antey, the maker of an air defence system. Apart from the Akash air defence system, the government had cleared the purchase of five S-400 air defence systems that are estimated to cost about $4.5 billion. 
 
Similarly kalyani group tied up with Rafael of Israel to make Spike Anti-tank missiles for the Indian military. 
 
Indian private players are still far away from accessing the key sensitive technologies related to fighter aircrafts and nuclear submarines however they are approaching fast by the virtue of transfer of technology and domestic manufacturing set-up under the make in India program. What must is to invest heavily in R&amp;D facilities along with the collaboration of key government institutions like DRDO with the private partners. Incoming demands for defence equipment is heavy and it should only be fulfilled by boosting the manufacturing process along with minimum government interference and a feasible policy framework. 
 
(Image: Indiatimes)

Defence Manufacturing: Is India Inc. ready?

(Eds: Combining related series) New Delhi, Apr 30 () Prime Minister Narendra Modi on Thursday held a series of meetings to discuss strategies to boost the economy amid the COVID-19 pandemic, and attract more foreign investments into India as well as promote local investments. He reviewed the state of investments, the defence and aerospace sector and the mine and mineral sector. An official statement said various strategies to bring investments into India on a fast-track mode and to promote Indian domestic sectors were discussed in the first meeting. The high-level meetings come amid the ongoing global backlash against China. Several companies are now looking for new bases to set up their businesses, according to reports. Detailed discussions were also held on guiding states to evolve their strategies and to be more proactive in attracting investments, the statement said. Reform initiatives undertaken by the various ministries should continue unabated and action should be taken in a time-bound manner to remove any obstacles which impede promotion of investment and industrial growth, the statement said, citing the discussions. The meeting also discussed that a scheme should be developed to promote more "plug and play" infrastructure in the existing industrial lands, plots or estates in the country and provide necessary financing support. During the meeting, Modi directed all concerned that action should be taken for a more proactive approach to "handhold" the investors, to look into their problems and help them in getting all the necessary central and state clearances in a time-bound manner. Given the increasingly worrying economic uncertainty, the government has moved to reassure both global and local investor community with focus on encouraging infrastructure and manufacturing sector investments. While chairing the meet on defence and aerospace, he said India should reduce dependence on imports and take forward the "Make in India" initiative to build its domestic capabilities for designing, developing and manufacturing state-of-the-art defence equipment. The meeting also discussed the potential reforms to ensure a robust and self-reliant defence industry in India that caters to short and long term needs of the armed forces. The meet also discussed initiatives to give a boost to the economy in the backdrop of COVID-19, an official statement said. The discussions involved reforming of the functioning of the ordnance factories, streamlining procurement procedures, focused resource allocation and encouraging research and development. Attracting investment in critical defence technologies and promotion of exports also came up in the meet. The prime minister laid emphasis on positioning India among the top countries of the world in defence and aerospace sectors, from design to production, with active participation of public and private sector fulfilling the twin objectives of self-reliance and exports. He reviewed the proposed reforms for attracting domestic and foreign investment in defence sector. It was discussed that defence expenditure be "economised" and the savings be channelised for strategic defence capital acquisition. Reviewing the mines and mineral sector, Modi laid special focus on improving the country's self-reliance in production of minerals and their in-country processing. Auctioning of additional blocks, encouraging wider participation in auctions, increasing the production of mineral resources, reducing the cost of mining and cost of transporting formed part of the discussion. The deliberations also focussed on increasing ease of doing business while also reducing carbon footprint with environmentally sustainable development. NAB SMNSMNSMN

PM Modi holds series of meetings to boost economy amid coronavirus crisis

India increased its military expenditure for FY2014-15 to Rs 2.29 lakh crore - an increase of 12.5% over the previous financial year. In his maiden budget, <keyword id="6355261" type="POSITION" weightage="100" keywordseo="Finance-minister">Finance Minister</keyword> <keyword id="42575" type="PERSON" weightage="100" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, who also holds the <keyword id="32723" type="COMPANY" weightage="100" keywordseo="Defence">defence</keyword> portfolio, allowed up to 49% foreign direct investment (<keyword id="44528" type="ORGANIZATION" weightage="100" keywordseo="FDI">FDI</keyword>) in defence to boost the development of indigenous hardware. 
 
Jaitley allocated Rs 5,000 crore more than the Rs 2.24 lakh crore allocated in the interim budget presented by the UPA government in February. The defence sector was allocated Rs 2,03,672 crore in FY2013-14. 
 
The finance minister raised the FDI cap in the defence sector from 26% to 49% to attract investments from global arms firms. 
 
"There can be no compromise with the defence of our country. I, therefore, propose to allocate an amount of Rs 2,29,000 crore for the current financial year for defence," Jaitley said in his budget speech in the Parliament. 
 
"Modernisation of the armed forces is critical to enable them to play their role effectively in the defence of India's strategic interests. I, therefore, propose to increase the capital outlay for defence by Rs 5,000 crore over the amount provided for in the Interim Budget," he said. 
 
India has been repeatedly expressing concern over China's rapid development of rail and road infrastructure along the disputed border, including those in Arunachal Pradesh. 
 
"Our domestic manufacturing capacities are still at a nascent stage. We are buying substantial part of our defence requirements directly from foreign players. Companies controlled by foreign governments and foreign private sector are supplying our defence requirements to us at a considerable outflow of foreign exchange," said Jaitley. 
 
"Currently we permit 26% FDI in defence manufacturing. The composite cap of foreign exchange is being raised to 49 per cent with full Indian management and control through the FIPB route," he said.

Jaitley Gives FDI Push To Defence

New Delhi, Feb 6 () RailTel Corporation of India Ltd has singed a memorandum of understanding with defence PSU Bharat Electronics Ltd (BEL) for cooperation in the field of cloud services, IoT , e-governance, smart cities, networks for defence projects, mission critical communication systems for domestic and international markets, according to a statement from the telecom service provider on Thursday. The MoU was signed in the presence of BEL CMD M V Gowtama and Puneet Chawla CMD, RailTel. BEL, a Navaratna PSU under the Ministry of Defense, is a multi-product, multi-technology company with nine manufacturing units across the country and primarily manufactures advanced electronic products for the Indian Armed Forces. The MoU was signed at the DefExpo which is underway in Lucknow. ASG ASG SMNSMN

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