The Ministry of Defence (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) that aims to provide self-reliance in defence manufacturing under the Atmanirbhara Bharat Abhiyan.
"The DPEPP 2020 is envisaged as an overarching guiding document of MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports," an official statement by the MoD read.
Highlights of Draft
The policy which is the guiding document of the ministry aims to achieve a turnover of more than Rs 1,75,000 crore($25 Billion) including Rs 35,000 crore worth of exports in aerospace by 2025.
It endeavours to achieve position for India amongst the leading countries of the world in defence and aerospace sectors and emerge as a defence manufacturing hub.
The ministry seeks to develop one of the best and competitive defence industries in India, including aerospace and naval shipbuilding that would cater to the needs of armed forces with quality products.
This would help reduce dependence on imports and take forward the 'Make In India' campaign.
The policy encourages more Research and Development (R&D) environments in India, to create Indian Intellectual Property ownership and set up a self-reliant industry.
The document has laid down multiple strategies and the major focuses of the policy such as procurement reforms that would help in the development of the Defence Production ecosystem, further increasing the flow of investments into the sector.
Indigenization of the imported components including alloys and special materials for defence equipment, support for MSMEs and Startups and Optimize resource allocation, investment promotion, FDI and ease of doing business are amongst other measures to help strengthen the defence ecosystem.
The draft has been uploaded on the official website for stakeholders' and public feedback, based on which the policy will be finalised. The feedback can be sent latest by August 17.