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Govt. announces creation of a dedicated defence & aerospace SME fund

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Secretary, Department of Defence Production, MoD, Dr. today announced creation of a dedicated defence & SME fund, registered with SEBI where minority stake could be taken by investors. This fund would help channelize investments into the two defence corridors announced by the in &

Dr. shared the Government's thought process on major reforms in the offset policy. He said that the OEMs and the were both dissatisfied with the earlier policy and the wishes to indulge in a larger dialogue with all stakeholders.

Dr.

Kumar highlighted that the new paradigm would focus on three principles - investment in like identified PSU/ quasi-PSU projects, providing higher incentives for transfer of 'Know Why' and targeted offset discharge. He added "Investments into testing infrastructure, training facilities and test beds would attract higher value of multiplier".

The government has addressed the current concerns of OEMs of delays in offset discharge by putting in place a framework for ensuring ease in doing business. In addition, measures such as facilitating third party certification based on data provided by the of Companies (ROC) subject to physical verification and statutory audits have also been taken.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, April 16 2018. 12:09 IST
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