In an effort to boost the ‘self-reliance’ (Aatm Nirbhar Bharat) initiative, India now puts a ban on importing 101 items of military equipment. On Sunday, defence minister of India, Rajnath Singh announces this plan to clearly give a boost to domestic defence production in India.
Minister also added that a separate budget of nearly 520 billion rupees (around $7 billion) has been created for domestic capital procurement on this fiscal year.
In his series of tweets, he writes;
“The embargo on imports is planned to be progressively implemented between 2020 to 2024. Our aim is to apprise the Indian defence industry about the anticipated requirements of the Armed Forces so that they are better prepared to realise the goal of indigenisation.”
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.
— Rajnath Singh (@rajnathsingh) August 9, 2020
Earlier this, Prime Minister Narendra Modi has given a clarion call for a self-reliant India based on the 5 pillars Economy, Infrastructure, System, Demography & Demand, and announced a special economic package for Self-Reliant India named ‘Atamnirbhar Bharat’.
And now it seems like the Ministry of Defence (MoD) is completely ready for a big push to the Atmanirbhar Bharat initiative. MoD will introduce import embargo on 101 items beyond a given timeline to boost indigenisation of defence production.