The CDS informed that AK 203 will be the mainstay of rifles for Indian Defence Forces, and these will be manufactured in India through a joint venture.
Prime Minister Narendra Modi announced on August 27 that 74 percent foreign direct investment (FDI) will now be allowed in the defence sector through the automatic route. The move may prove a major push for ‘Aatmanirbhar Bharat’ in defence manufacturing.
Addressing the ‘Aatmanirbhar Bharat Defence Industry Outreach Webinar’ on August 27, the PM emphasised the need to make India’s defence sector self-reliant. He said: “We aim to increase defence manufacturing in India and make the nation a reliable weapon supplier to friendly nations.”
For many years, India has been one of the biggest defence importers. But now, the focus will be shifted to manufacturing instead. The ultimate aim of the defence manufacturing push will be to consolidate India’s position as a net security provider in the region.
PM Modi said: “When India got independence, it has a robust defence production ecosystem. Unfortunately, defence production in India was not focussed on post-independence….But we will now work towards breaking all barriers to promote defence production in India”
Source: Moneycontrol
