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Govt releases draft Defence Production and Export Promotion Policy 2020
New Delhi, August 4, 2020
The Ministry of Defence on Monday released the draft Defence Production and Export Promotion Policy 2020 seeking to provide an impetus to self-reliance in defence manufacturing under the "Atmanirbhar Bharat Package" and to place India among the leading countries of the world in defence and aerospace sectors.
The draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020) is envisaged as an overarching guiding document to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports, the Ministry said in a press release.
According to the goals and objectives of the policy, it seeks to achieve a turnover of Rs 1,75,000 crore ($ 25 billion) including export of Rs 35,000 crore ($ 5 billion) in aerospace and defence goods and services by 2025.
It seeks to develop a dynamic, robust and competitive defence industry, including Aerospace and Naval Shipbuilding industry to cater to the needs of the Armed Forces with quality products. It wants to reduce dependence on imports and take forward "Make in India" initiatives through domestic design and development, the release said.
The policy will promote the export of defence products and become part of the global defence value chains. It will create an environment that encourages R&D, rewards innovation, Indian IP ownership and promote a robust and self-reliant defence industry.
The policy would adopt multiple strategies in the focus areas of Procurement Reforms; Indigenization & Support to MSMEs/Startups; Optimize Resource Allocation; Investment Promotion, FDI & Ease of Doing Business; Innovation and R&D; DPSUs and OFB; Quality Assurance & Testing Infrastructure; Export Promotion, the release added.