India's self-reliance in defence sector to boost its global standing: PM Modi
NEW DELHI: Prime Minister Narendra Modi said on Thursday that his go nment's resolve for 'Atmanirbhar Bharat' is not inward-looking, but aimed at boosting India's capabilities and global peace, and also for helping the world economy become more stable.
Speaking at a defence industry outreach seminar, PM Modi said India's self-reliance on defence capabilities will boost its standing of being a net security provider in the Indian Ocean and make it a defence supplier for many friendly countries, depending on strategic ties.
Wooing private players, he asserted that the import embargo on a number of defence equipment is not only aimed at curbing imports but also giving a boost to the domestic industry. He said more items will be added to this import embargo list later.
He noted that India has long been one of the biggest defence importers in the world and rued that enough attention was not paid to augmenting domestic production in the past despite the country having inherited a capable ecosystem at the time of Independence.
Asserting that a new mindset has emerged on his go nment's watch, he said it is working to boost domestic manufacturing and developing new technologies with the maximum role for the private sector.
His go nment has opened the way for 74 per cent FDI (Foreign Direct Investment) in defence production through automatic route, he noted.
Referring to recent labour reforms in a number of states, PM Modi said the reform exercise is not going to stop.
The work on building defence corridor is also on at a rapid pace in states of Uttar Pradesh and Tamil Nadu, he said, while adding that Rs 20,000 crore investment would be made for this in the next five years.
PM Modi said his go nment has always worked to remove red-tape and roll out red carpet for the private sector, while asserting that it is a win-win situation for everyone.
CONgress never wanted to manufacture in India so that they can collect commissions in buying things from other countriers.
For Modi, every thing is "will be", "can be". But there is no follow up action. Just talks and slogans. He has been doing this 7 years now. But he makes sure there is money for a statue or a temple.
Doesn’t this man ever get tired.....
Whenever I see his face, I see a loser. A loser who lost to China. Shameful.
How can you say that? The chinese troops never entered into our territory according to our PM.. Had they entered, the story would be different. We would have attacked them ferociously.
when you are opening up for foriegn investment in defence sector then what is the use of atmanirbhar and big rhetoric.? foreign investment means big chunk of profit goes to foreign country .
Pls talk about China ...what are you doing to avenge death of 20 soldiers
India can be the greatest country...but unfortunately you should not be a part of it else we will never be anywhere dear Feku
Thanks to Nehru for creating DRDO and HAL sixty years ago
Every word out of his mouth is a lie and every scheme a jumla. Economy and lives of citizens in tatters. IOR, haha? Can't even protect 56 inches of a border.
There is news we are buying many weapons from outside. So words not match deed.
Fix the economy and covid u shameelesss man
We need to be producing defence eqipment fast. There is no time for excuses and consessions now for anyone.
Trump's gone in November, so don't bank on him.
4 year's ago it was said that TRUMP had no chance.
God please save us from this deceitful demon ...
yes india need to take a commanding position in the IOR
And PM is hiding from questions.. economy is in dol drums..
First provide safety of women in UP Haryana and Bihar. Forget about the IOR
What about the 5T economy, derailed after Coronavirus
This fool Feku couldn't drive Chinese out of our Galwan valley since months and now dreaming of whole IOR.
Manyam Raja Ram
A fellow who can not protect his own people is talking nonsense.