 "Budget provides for vibrant ecosystem in defence manufacturing: PM Modi")
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Highlighting challenges faced in procuring defence equipment from abroad, Prime Minister Narendra Modi on Friday stressed on promotion of the 'AatmaNirbhar Bharat' and 'Make in India' campaign in defence manufacturing.
The Prime Minister also highlighted that about 70 per cent of the defence budget has been kept for the domestic industry only.
Addressing a webinar on 'Aatmanirbharta in Defence - Call to Action', the Prime Minister said, "When we procure weapons from outside, its process is so long that by the time they reach our security forces, many of them become outdated. Its solution is in 'AatmaNirbhar Bharat campaign' and 'Make in India'."
The Prime Minister mentioned that this year's Union budget has a blueprint for developing a vibrant ecosystem from research and development for defence manufacturing.
"This year's budget has a blueprint for developing a vibrant ecosystem from research, design and development of manufacturing within the country. About 70 per cent of the defence budget has been kept for domestic industry only," he said.
The Prime Minister further added that weapons made in India played a big role in World War II.
"Even before and just after independence, the strength of our defence manufacturing was very high, and weapons made in India played a big role in World War II," he said.
"Although this strength of ours kept on weakening in later years, it shows that there was no shortage of capacity in India in those times and neither is it now," he added.
Union Budget 2022-23 related to the Ministry of Defence has given further impetus to Aatmanirbharta in Defence, said the Ministry of Defence in an official statement. The Ministry has organised a post-budget webinar titled 'Aatmanirbharta in Defence - Call to Action' on the announcements made in the budget for the defence sector.
The objective of the webinar is to involve all the stakeholders in taking forward the various initiatives of the government in the defence sector.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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