Wednesday, Sep 23rd 2020
Trending News

Major Boost For PM Modi's Make In India Initiative As Defence Minister Rajnath Singh

By FnF Correspondent | PUBLISHED: 10, Aug 2020, 12:57 pm IST | UPDATED: 10, Aug 2020, 12:58 pm IST

Major Boost For PM Modi's Make In India Initiative As Defence Minister Rajnath Singh Delhi: In yet another earnest attempt to boost PM Narendra Modi-led NDA government's 'Make In India' initiative in the defence sector, Union Defence Minister Rajnath Singh will launch 'Atma Nirbhar Bharat Saptah` on Monday (August 10). The event is scheduled to take place at 3.30 pm on Monday, tweeted the Office of the Defence Minister of India.

The launching of the Atma Nirbhar Bharat Saptah comes a day after Cabinet Minister Rajnath Singh on Monday (August 9) had announced that the Defence Ministry will impose an embargo on the import of 101 defence items beyond given timeline to provide an impetus to indigenisation of defence production in the nation.

Singh had harped on the fact that the move is a major step in making India self-reliant (Atma Nirbhar) in defence production and will go a big way in helping the nation being less dependent on foreign arm and ammunition import.

In a series of tweets, Singh had said that the capital procurement budget for 2020-21 has also been bifurcated by the Defence Ministry between domestic and foreign capital procurement routes. He added that a separate budget head has been created with an outlay of nearly Rs 52,000 crore for domestic capital procurement in 2020.21.

"The Ministry of Defence is now ready for a big push to #AtmanirbharBharat initiative. MoD will introduce import embargo on 101 items beyond given timeline to boost indigenisation of defence production," Singh had tweeted.

Prime Minister Narendra Modi has given a clarion call for a self-reliant India based on the five pillars, i.e., Economy, Infrastructure, System, Demography and Demand and announced a special economic package for Self-Reliant India named `Atmanirbhar Bharat`," he had said in another tweet.

"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," he had tweeted.

"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," he had said.
You Might also Like