Defence Ministry Okays Positive Indigenisation Of Military Hardware Valuing Over 1000 Crore

ENA Sectors 2024-07-17 14:34:22 New Delhi, Jul 17 (KNN) In a significant move to bolster its domestic defence industry, India has unveiled a new list of 346 military hardware items that will be subject to an import ban and produced domestically. The announcement, made on Tuesday by the Indian Defence Ministry, marks the latest step in the country's efforts to reduce reliance on foreign military equipment. The newly released fifth Positive Indigenisation List (PIL) includes what the ministry describes as strategically important systems and weapons. These items will be procured exclusively from state-run domestic manufacturers once the import ban takes effect, following a staggered timeline. According to the ministry, the list encompasses a range of equipment, including line replacement units, systems, sub-systems, assemblies, components, and raw materials. The total import substitution value of these items is estimated at 1,048 crore rupees. The Defence Ministry reports that over 12,300 items have already been indigenised in the past three years, demonstrating significant progress in domestic defence production. The latest announcement brings the total number of items on the positive indigenisation lists to 5,012. This initiative is part of India's broader Aatmanirbhar Bharat campaign in the defence sector. The government aims to reduce dependence on imported military platforms and support the growth of domestic defence manufacturing. Defence Minister Rajnath Singh recently outlined ambitious goals for the sector, including increasing defence exports from the current 21,083 crore rupees to 50,000 crore rupees by 2028-29. India, traditionally one of the world's largest arms importers, is projected to spend around USD 130 billion on capital procurement for its armed forces over the next five to six years. The government's push for domestic production is expected to significantly impact this spending pattern. The Defence Ministry anticipates that this move will stimulate economic growth, enhance investment in the defence sector, and reduce import dependence. Additionally, it is expected to augment the design capabilities of the domestic defence industry through increased involvement of academia and research institutions. (KNN Bureau) 38623 https://knnindia.co.in/news/newsdetails/sectors/defence-ministry-okays-positive-indigenisation-of-military-hardware-valuing-over-1000-crore 2024-07-17 14:34:22 knnindia.co.in Defence Ministry Okays Positive Indigenisation Of Military Hardware Valuing Over 1000 Crore