Defence Minister Rajnath Singh has announced the embargo on 101 defence related items, in what comes as a major boost to the Atmanirbhar Abhiyan. Rajnath has announced that this is a big step towards self-reliance in defence industry and will give India a big chance to have a bigger defence manufacturing setup.
Raksha Mantri Shri @rajnathsingh will make an important announcement at 10.00 am today.
— रक्षा मंत्री कार्यालय/ RMO India (@DefenceMinIndia) August 9, 2020
10:12 am: Almost 260 schemes of such items were contracted by the Tri-Services at an approximate cost of Rs 3.5 lakh crore between April 2015 and August 2020. It is estimated that contracts worth almost Rs 4 lakh crore will be placed upon the domestic industry within the next 6 to 7 years: Rajnath Singh
10:11 am: The list is prepared by MoD after several rounds of consultations with all stakeholders, including the Armed Forces, public & private industry to assess current and future capabilities of the Indian industry for manufacturing various ammunition & equipment within India: Rajnath singh
10:10 am: This decision will offer a great opportunity to the Indian defence industry to manufacture the items in the negative list by using their own design and development capabilities or adopting the technologies designed & developed by DRDO to meet the requirements of the Armed Forces: Rajnath Singh
10:09 am: Taking cue from that evocation, 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. This is a big step towards self-reliance in defence: Rajnath Singh
10:06 am: MoD has also bifurcated the capital procurement budget for 2020-21 between domestic and foreign capital procurement routes. 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: Rajnath Singh
10:05 am: Prime Minister Narendra Modi has given a clarion call for a self-reliant India based on the 5 pillars Economy, Infrastructure, System, Demography & Demand and announced a special economic package for Self-Reliant India named ‘Atamnirbhar Bharat’: Defence Minister Rajnath Singh
10:04 am: Ministry of Defence (MoD) is now ready for a big push to Atmanirbhar Bharat initiative. MoD will introduce import embargo on 101 items beyond given timeline to boost indigenisation of defence production: Defence Minister Rajnath Singh
9:55 am: The minister is likely to make an announcement on defence items that will not be imported now on
9:50 am: Defence Minister Rajnath Singh to address the media shortly
Source: India TV