- Your Ultimate Guide to the Perfect Pongal Look
- With unsecured personal loans under lens, growth momentum in the segment to derail in coming quarters
- Andhra CM Jagan takes poll battle to Chandrababu Naidu's home turf - Kuppam
- India seeks greater say for developing countries at WTO meet
- It was a joy to be a part of a lyrical, poetic, and deeply romantic story: Shahbaz Khan
- Samsung’s Most Intelligent PC Lineup Galaxy Book4 Series Goes on Sale in India
- KIUG 2023: Sambalpur’s Sujata Kujur hopes to make it to Indian women’s hockey team
- VESCOA Partner with ISRO, signed MoU with ASSOCHAM to Advance Collaborative Initiatives
- FM Sitharaman stresses on compliance of norms at meet with fintech heads
- Indian Navy conducts airborne insertion ops over Arabian Sea
Government released draft Defence Production and Export Promotion Policy 2020
Defence Ministry has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP-2020)
Defence Ministry has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP-2020). The policy aims to provide impetus to self-reliance in defence manufacturing under the Atmanirbhar Bharat Scheme.
The DPEPP-2020 is envisaged as overarching guiding document of Defence Ministry to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports.
Defence Production and Export Promotion Policy 2020 has marked out clear goals and objectives to be undertaken by the Defence Ministry.
Major Highlights of the Policy
. First and foremost amongst all is to achieve a turnover of Rs 1,75,000 Crore (US$ 25Bn) including export of Rs 35,000 Crore US$ 5 Billion) in the Aerospace and Defence goods and services by the year 2025.
. Developing a dynamic, robust and competitive Defence industry, including Aerospace and Naval Shipbuilding industry to cater to the needs of Armed forces with quality products has also been laid out in the new draft policy.
. It emphasizes reducing dependence on imports and take forward "Make in India" initiatives through domestic design and development.
. To promote the export of defence products and become part of the global defence value chains.
. Efforts will be made to create an environment that encourages Research and Development (R&D), rewards innovation, creates Indian IP ownership and promotes a robust and self-reliant defence industry.
The Policy brings out multiple strategies under the following focus areas and they are
. Procurement Reforms
. Indigenization & Support to MSMEs/Startups
. Investment Promotion, FDI & Ease of Doing Business
. Innovation and R&D
. Optimize Resource Allocation
. DPSUs and OFB
. Quality Assurance & Testing Infrastructure
. Export Promotion
Defence Ministry has solicited comments on the draft DPEPP-2020 policy from all stakeholders latest by August 17, 2020.