Parrikar unveils new DPP during Defence Expo
The expo provides an opportunity to the Indian Defence Public Sector Undertakings (DPSUs) and private sector to demonstrate their capability to design, develop and deliver a wide range of military and civil products
Inaugurating the 9th edition of Defence Expo India, a biennial event to exhibit India’s sophisticated military systems and technologies, Defence Minister Manohar Parrikar on Monday introduced the new Defence Procurement Policy, which, he said, would give a thrust to Make in India programme as well as ensure transparency and expediency in defence-related transactions. Earlier this month, the defence minister had confirmed that the new policy is being finalised and will be unveiled during the upcoming defence expo event. He had said that the policy is being restructured with an aim to utilise and consolidate development and manufacturing of the existing defence infrastructure, and certain amendments will be made in this regard to simplify the existing offset processes. The land, naval and internal security systems exposition, organised by The Defence Exhibition Organisation of Department of Defence Production, Ministry of Defence, have attracted over 1,000 defence firms across the globe, which, over the next four days, will showcase their innovation and latest security products, besides capitalising on opportunities to forge alliances and partnerships with local defence manufacturers. “The exhibition would be showcasing India's capabilities in Land, Naval and Security Systems as well as its emergence as an attractive destination for investment in Defence Sector,” Ministry of Defence said in a statement. “The event also provides an excellent opportunity to the Indian Defence Public Sector Undertakings (DPSUs), private sector and other defence related industries to demonstrate their capability to design, develop and deliver a wide range of military and civil products/services,” it said. India is one of the very few countries in the world that possesses indigenous capabilities in the defence sector, especially in the development of aircraft carriers, ballistic missile defence, main battle tank, multi-level strategic deterrence, nuclear powered submarines, stealth destroyers and 4th generation fighter aircraft. India currently allows 49% foreign direct investments (FDI) in defence sector. And with the new Defence Procurement Policy as well as changes in policies on defence-related joint- ventures and Make in India campaign, the government is intending to reinvigorate and encourage indigenisation in defence manufacturing.
March 28, 2016 | 06:25pm IST
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to success.