Industry welcomes govt’s move for indigenous manufacture of 101 defence items
CHAMBERS of Commerce and industry have welcomed the Defence Ministry’s resolve to stop import of 101 defence items in a phased manner and assured cooperation for successful implementation of The ATMANIRBHAR Bharat program. Defence Minister Rajnath Singh has announced to embargo imports of the 101 identified defence items after due deliberations with the stakeholders for indigenous production. Confederation of Indian Industry (CII) director general Chandrajit Banerjee says it is indeed a welcome move that 52,000 crore rupees will be earmarked for procurement from domestic manufacturers. The defence minister’s announcement for negative import list of defence systems and platforms marks the launch of a ‘new glide path’ for Atmanirbhar Bharat. FICCI has hailed the curbs on defence items imports as a great leap forward for Atmanirbhar Bharat program. FICCI’s defence committee head SP Shukla said earmarking of 52,000 crore rupees for domestic capital procurement fulfils a request by the industry chamber to provide long-term visibility on defence procurement plans. Chairman and managing director of Bharat Forge Baba Kalyani said the announcement is a strategic step that will boost the Atmanirbhar Bharat narrative and bolster Indian defence equipment manufacturing industry in India. Several other captains of the business world have also appreciated the move saying it intends to reinvigorate the national economy. Image courtesy to Newscast Pratyaksha.
