Over Three-Fourth Of The Defence Capital Budget, Worth Rs 1 Lakh Crore, Allocated For Local Industry: Rajnath Singh

The Indian government has allocated over 75 per cent of the defence capital acquisition budget, worth Rs 1 lakh crore, for procurement from domestic companies, Defence Minister Rajnath Singh said during the 'India Manufacturing Show-2023.'

The move aims to provide strong demand support for domestic industries, and Singh highlighted various measures taken to benefit medium, small, and micro enterprises (MSMEs) in the defence sector.

"We are the first government which imposed restrictions on itself for the import of weapons. We released five positive indigenisation lists, under which 509 equipments have been identified, the manufacturing of which will now take place in India," stated Singh.

Additionally, the Defence public sector Uundertakings will follow four positive indigenisation lists, listing 4,666 items for in-country production.

He also mentioned the Innovations for Defence Excellence (iDEX) initiative, focusing on involving start-ups and innovators in defence manufacturing, and the iDEX Prime, offering support for projects beyond Rs 1.5 crore up to Rs 10 crore.

Singh emphasised the government's commitment to small-scale industries, highlighting measures like the MUDRA scheme and additional financial support during the COVID-19 pandemic.

He praised 'Laghu Udyog Bharti' as a crucial link between the government and the industry, facilitating the resolution of issues faced by small industries.

Singh expressed confidence that India, through dedication and hard work, will evolve into a self-reliant global manufacturing hub in the near future.