Trade, imports and exports for MSMEs: The total number of MSME vendors of Defence Public Sector Enterprises/Ordnance Factory Board was 15,089 in FY17. This declined to 7,591 in FY18 but increased marginally to 8,643 in FY19 and then to 10,506 vendors in Q2 FY20.
Trade, imports and exports for MSMEs: MSMEs will be prime-tier vendors in the procurement of defence equipment by the government from the industry for Rs 31,130 crore approved by Defence Acquisition Council (DAC) on Thursday. “The equipment are going to be manufactured in India involving Indian defence industry with the participation of several MSMEs as prime-tier vendors,” the Defence Ministry said on Thursday. DAC in its meeting headed by Defence Minister Rajnath Singh approved proposals worth around Rs 38,900 crore for “capital acquisition of various platforms and equipment required by the Indian Armed Forced.” The approvals come amid the government’s call for economic self-reliance along with promoting local products under PM Modi’s ‘vocal for local’ campaign.
In May this year, Singh had exhorted MSMEs to make India self-reliant in defence technology and products. “I would like to say that we have to have our indigenous products, ie ‘vocal for local’, but before that in our own life, ‘local’ has to be focal. That is, we have to adopt ‘swadeshi’ products in our life. There is no doubt that MSMEs have a very important role in the goal of indigenous manufacturing, and in the goal of self-reliant India,” he said at an e-event.
Source: Financial Express
