Panel approves most proposals of defence, explosives sectors

A high-powered panel cleared most of the 144 proposals for setting manufacturing units, including from defence and explosive sectors, that came up for its consideration today.
Majority of the proposals which were considered today were approved, a senior DIPP offical said.
The inter-ministerial committee was chaired by Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant here.
The second licencing committee considered 144 proposals. Of this, 43 were from defence manufacturing sector, 97 from explosive sector, and one each from cigarette, chemical and paper.
As many as 91 proposals in the explosive sectors were cleared, sources said.

According to the official, the panel considered proposal of Bhart Forge Ltd in Maharashtra for small arms, weapons and fuze devices and ABG Shipyard, Pipavav Defence and Offshore Engineering Company Ltd.
To attract foreign direct investment and boost defence manufacturing in the country, which imports up to 70 per cent of its military hardware, the government has raised the FDI cap to 49 per cent.