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October 25, 2021
PowerNews TV

India imposes embargo on 101 defense items to boost indigenous production

Keeping in line with the PM Narendra Modi’s Atmanirbhar Bharat, meaning self-reliant, India on Sunday has banned the import on 101 defense items, which include artillery guns, corvettes, assault rifles, and transport aircraft.

This step will improve the production of defense items within the country and will motivate the industry, says Defense Minister Rajnath Singh.

“The embargo on imports,” he said, is planned to be progressively implemented between 2020 and 2024.” “Our aim is to apprise the Indian defense industry about the anticipated requirements of the Armed Forces so that they are better prepared to realize the goal of indigenization.”

Usually, India imports defense items from Russia. However, of late, owing to improved bilateral ties, India has begun purchasing from the United States of America.

Due to this, items worth 3.5 trillion will now be on hold, which had been contracted between April 2015 and August 2020. Hence, according to government estimates, orders amounting to Rupees four trillion will now go to the domestic industry in the next 5-7 years.

Image Source : thewire.in

Apart from this, the Ministry of Defense has also segregated the capital procurement budget for 2020-21 between the domestic and foreign procurement ways, said Singh.

“A separate budget head has been created with an outlay of nearly Rs. 52,000 crore for domestic capital procurement in the current financial year.”

The items on the list have been meticulously chosen by the services. Most of the items, primarily the corvettes and frigates for the Navy and multi-barrel rocket launchers for the Army, are already being manufactured within the country. However, it wasn’t announced about any new development of production capacity.

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