Defence Minister Rajnath Singh, on Monday, said a new list of defence items that will not be imported is likely to be notified in the subsequent month.
While speaking on the efficient implementation of the Union Budget provisions in the defence sector at the webinar on 'Budget Announcements 2021-22: Galvanising Efforts for Atmanirbhar Bharat', he said, "Another list of items that will be not be imported to be notified in March 2021."
According to The Times of India, procurement of defence equipment from the private sector exceeded much beyond the present limit of 15 per cent.
The Department of Military Affairs (DMA), Ministry of Defence (MoD), prepared a list of 101 items last year for which there could be an embargo on the import.
The minister also talked about the plans to spend $130 billion on army modernisation in the next five years. He also mentioned the current order of 83 indigenous Light Combat Aircraft MK 1A, Tejas, worth ₹48,000 crores, awarded to Hindustan Aeronautics Limited (HAL) during the recently concluded Aero India 2021.
Singh stated the defence finances have seen an unprecedented improvement of 18.75 per cent in capital outlay over and above last financial year and 30 per cent from the previous year, which is the best in one and a half-decade.
The minister added that the contract for an indigenously designed Light Combat Helicopter is more likely to be signed quickly.
Letter of Intent (LOI) for Light Utility Helicopters (LUH) will likely be given to Hindustan Aeronautics Ltd in order that the helicopters can be installed into the armed forces on the 75th Anniversary of India's independence.
'Make in India, Make for the World' is the one mantra to remain up to date with the newest technological developments and stay economical. Stressing that the defence trade can solely thrive by going world, he stated, the government is actively promoting not only home manufacturing but additionally an export-oriented defence trade.