Prime Minister Narendra Modi on Thursday addressed ‘Atmanirbhar Bharat Defence Industry Outreach Webinar’ through video conferencing. During the conference, PM Modi emphasised the need of making India self-reliant in the defence sector.
Here are the highlights of the speech:
‘To permit up to 74% FDI in the defence manufacturing ‘
A decision has been taken to permit up to 74% FDI in the defence manufacturing through automatic route, said PM Modi.
‘Reform exercise not going to stop now’
We also saw labour reforms recently; reform exercise not going to stop now. They will continue and we will not be tired from it, said PM Modi.
‘For many years, India has been one of the biggest defence importers’
For many years, India has been one of the biggest defence importers. When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get requisite attention, said PM Modi.
‘To increase defence manufacturing in India’
We aim to increase defence manufacturing in India, said PM Modi during the conference.
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