Raksha Mantri Reviews Progress of Two Defence Industrial Corridors
Raksha Mantri Shri Rajnath Singh reviewed the progress of two Defence Industrial Corridors here today. During the meeting a Power Point Presentation was made highlighting the following points; Indian defence market, introduction of defence corridors, Uttar Pradesh & Tamil Nadu Defence Corridors & its ecosystem, stakeholders interaction, policy support for defence industry, anchor investment in Tamil Nadu and Uttar Pradesh corridors, appointment of consultant for preparation of Detailed Project Report & initiatives taken by state Governments.
Finance Minister in his budget speech (2018-19) had announced setting up of two Defence Industrial Corridors in the country. In pursuance of the said announcement, it was decided to set up one of these Corridors in Uttar Pradesh and another in Tamil Nadu. Subsequently, six nodes have been identified for Uttar Pradesh Corridor and five for Tamil Nadu Corridor.
During the meeting, the Raksha Mantri directed the officials to speed up the process of setting up of the corridors. It was also suggested to hire resource persons as the defence sector is highly complex.It was also discussed that for investments to materialise in the defence corridors, assured order for defence items was the primary driving force.
The participants for the meeting besides RM included secretary (Defence Production) Dr Ajay Kumar, Additional Secretary (DP), Economic Adviser/DDP concerned Directors of the Ministry.