India is the world's third largest buyer of arms and equipment but in the absence of a good plan to reduce imports through local production, 13 armament factories are in "this state of affairs", the defence minister said while stressing the need for reviving these units.
She made these comments a day after Prime Minister Narendra Modi announced the setting up of a Defence Industrial Corridor in Uttar Pradesh.
Addressing the plenary session on the second day of the Investors Summit 2018, she said the Corridor is proposed in a stretch through Aligarh, Agra, Jhansi, Chitrakoot and it also includes Kanpur and Lucknow.
It will leverage the existing ordnance factories and state-owned defence establishments in UP, she added.
Sitharaman said Bundelkhand will benefit from the six-lane highway which the UP government has proposed to build up from Chitrakoot to Jhansi and will provide necessary infrastructural support for investment units in India.
The minister added that the MoD will, apart from taking steps to promote private investment, set up infrastructure for blast testing of arms and ammunition in the proposed Corridor.
Sitharaman also stated that low cost of land and low wage rate with adequate supply of manpower will be an attraction of the UP Defence Industrial Corridor. It will serve as an engine for economic development and growth of regions of UP, especially Bundelkhand region.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
