New Delhi, Dec 14 (UNI) Defence Minister Rajnath Singh on Monday said the government is willing to collaborate with the private sector in joint ventures and partnerships with other countries.
Mr Singh said he believed the defence industries would play a significant role towards a Atmanirbhar Bharat (self-reliant India) and in reviving growth, and asked the private sector to join in.
"We have opened doors to the private sector, incentivised domestic production, are creating defence corridors and doing a lot more.
We are also willing to engage in meaningful joint ventures and partnerships with other countries," said the minister.
He was addressing industry chamber FICCI's annual meeting.
The defence minister said that it's not a very comforting fact that as one of the largest armed forces of the world, the country is so import-dependent on critical areas.
"And now again our brave forces are there in the forefront fighting icy winds to guard our borders and to fulfill their responsibility. The question is can our industry also stand shoulder to shoulder with our forces," he asked, referring to the border skirmish in Galwan valley in Ladakh.
"While we have made some important strides in defence production, a lot more can and must be done."
He said the new Defence Acquisition Procedure along with the earlier decision to increase FDI in defence through the automatic route to 74 per cent will provide an impetus to domestic manufacturing and development with the induction of newer technologies and global best practices:.
"I have no doubt that the private sector will remain an active participant in achieving the turnover of Rs 1,75,000 Crore and exports of Rs 35,000 crore."
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