UP govt drafts new defence manufacturing policy to woo private sector

The new policy is aimed at providing a major leg-up to the proposed UP Defence Corridor, which is estimated to attract investment to the tune of Rs 20,000 crore

Eyeing a major pie of the lucrative indigenous defence manufacturing space, the Uttar Pradesh government has drafted a new defence manufacturing policy.

The state is also hosting the 11th national defence expo in Lucknow on February 5-8, 2020 and the new policy will be implemented before the flagship event for greater leverage and traction.

The policy will soon be placed before the state cabinet for approval, UP industrial development minister Satish Mahana told Business Standard here today. Several amendments have been proposed in the existing Defence and Aerospace Policy 2018 policy to make it more attractive for the private sector.