Select private firms will be roped in to build military platforms like submarines and fighter jets in India
In a push to domestic manufacturing of defence equipment, the Ministry of Defence has finalised a policy on strategic partnership involving major Indian corporates and supply chains (in small scale sector) and select private global players.
The policy is aimed at enhancing military capabilities by adding fighter jets, submarines and armoured vehicles by partnering with foreign firms. At a later stage this can be extended to other defence equipment as well.
The policy is also aimed at giving a boost to the 'Make in India' mantra of Prime Minister Narendra Modi by fostering a partnership between domestic and foreign manufacturers.
The Defence Acquisition Council (DAC), under the chairmanship of Defence Minister Arun Jaitley, on Saturday, finalised the broad contours of the policy.
After clearance from the Ministry of Defence, the policy will be examined by the Cabinet Committee on Security (CCS) headed by the Prime Minister and comprising ministers of Home, External Affairs and Finance.
"The policy, which was developed through extensive consultations with stakeholders in Indian industry, envisages the establishment of long-term strategic partnerships with qualified industry majors through a transparent and competitive process," an official release said.
The policy will give a boost to the 'Make in India' policy in the Defence sector and set Indian industry on the path to acquiring cutting-edge capabilities which will contribute to the building of self-reliance in the vital sector of national security requirements.
Defence Minister Arun Jaitley had in last week met representatives of defence arms of leading groups including Larsen and Toubro, Ashok Leyland, Mahindra and Mahindra, Reliance Infra, Tata Group, Punj Lloyd, Adani Group and Bharat Forge Ltd.
The policy was proposed by the Dhirendra Singh Committee in July, 2015, stating that to expand the Make in India plan in the Defence industry, such a model should be adopted.
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