Two years of debate, India finally allows foreign firms to produce cutting-edge military equipment

Ending two years of debate, the Ministry of Defence (MoD) today allowed foreign companies to collaborate with Indian partners to produce cutting edge military equipment in India.

This is expected to open up and also speed up the production of fighter jets, submarines, helicopters, tanks of the future and armoured vehicles for the Indian armed forces. India is running short on fighter jets as some 300 are needed in the next decade while submarines are held up even as China is racing ahead with some 68 vessels compared to India’s 15. Some 800 helicopters of various types are needed by the Air Force, Army and the Navy.

“The Defence Acquisition Council (DAC) under the chairmanship of the Minister of Defence, Arun Jaitley, today finalised the broad contours of a policy aimed at engaging the Indian private sector in the manufacture of high-tech defence equipment in India,” MoD spokesperson Nitin Wakankar said today.

Popularly known as the ‘Strategic Partnership’ (SP) model, it will require an approval from the Cabinet Committee on Security (CCS), the highest decision making body for defence and security matters.

‘Make in India’ policy in the defence sector is expected to get a boost while the Indian industry will acquire cutting-edge capabilities to be self-reliant in the vital sector of national security requirements. At present, India is the world’s largest importer of weapons and military equipment, accounting for 13 per cent of all such international imports, this was revealed in a report released by the Sweden-based think tank Stockholm International Peace Research Institute (SIPRI) in February this year.

Initiated by the Jaitley’s predecessor Manohar Parrikar, the ‘SP Model’, if implemented, could be a game-changer. Pankaj R Patel, FICCI president, said, “The involvement of private sector in defence manufacturing will germinate growth for ‘Make in India’.”

 

 

 

 

 

Source:-Tribune India

The post Two years of debate, India finally allows foreign firms to produce cutting-edge military equipment appeared first on Indian Defence Update.



from Indian Defence Update http://ift.tt/2pY4RaP
via IFTTT
Two years of debate, India finally allows foreign firms to produce cutting-edge military equipment Two years of debate, India finally allows foreign firms to produce cutting-edge military equipment Reviewed by Defense Alert on 22:10:00 Rating: 5

No comments:

Defense Alert. Powered by Blogger.