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The Defence Ministry will “introduce import embargo on 101 items beyond given timeline to boost indigenisation of defence production”.
Details
- The Ministry of Defence has prepared a list of 101 items for which there would be an embargo on the import beyond the timeline indicated against them.
- The government intends to reach a turnover of $25 billion through indigenously manufactured defence products and also expects to export products worth $5 billion.
- Government has also decided that in any government contract over ₹200 crore, no foreign company can participate in the tendering process, to help Indian Manufacturers.
- The embargo on imports is planned to be progressively implemented between 2020 to 2024.
- The aim is to apprise the Indian defence industry about the anticipated requirements of the Armed Forces so that they are better prepared to realise the goal of indigenisation.
Click Here to read more about the Defence Production and Export Promotion Policy 2020 (DPEPP 2020)
-Source: The Hindu, Hindustan Times
