Defence Ministry has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP-2020).
The policy aims to provide impetus to self-reliance in defence manufacturing under the Atmanirbhar Bharat Scheme.
The DPEPP-2020 is envisaged as overarching guiding document of Defence Ministry to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports.
AIR correspondent reports, Defence Production and Export Promotion Policy 2020 has marked out clear goals and objectives to be undertaken by the Defence Ministry.
First and foremost amongst all is to achieve a turnover of Rs. 1 lakh 75 thousand Crore including an export of Rs. 35 thousand Crore in the Aerospace and Defence goods and services by the year 2025.
Developing a dynamic, robust and competitive Defence industry, including Aerospace and Naval Shipbuilding industry to cater to the needs of Armed forces with quality products has also been clearly laid out in the new draft policy.
The ministry has also laid emphasis on reducing dependence on imports and taking forward the Make in India initiatives through domestic designs.
Efforts will be made to create an environment that encourages Research and Development, rewards innovation, creates Indian IP ownership and promotes a robust and self-reliant defence industry.
Defence Ministry has solicited comments on the draft DPEPP-2020 policy from all stakeholders latest by 17th of August this year.