NEW DELHI: India’s self-reliance will boost the country’s image and partnerships at the international level, Prime Minister Narendra Modi said on Thursday as he pushed for Atmanirbhar outreach in defence manufacturing.
“The Atmanirbhar Bharat mission is not inward looking. It is to make the global economy more stable and resilient,” he said at a webinar ‘Atmnirbhar Bharat-Defence Industry Outreach’, organised by FICCI and the Department of Military Affairs.
India has the capability to become a reliable defence equipment supplier to friendly nations and will strengthen the role of net defence security provider in the Indian Ocean Region, the PM said, adding that it will give more power to the country’s strategic partnerships.
Modi said post-Independence, India remained a defence importer despite having the capability for manufacturing. That situation is changing now, as the government is taking steps to make India self reliant, he said.
“For the first time, 74% FDI in defence is allowed through automatic route. We are going forward with the process of corporatisation of the Ordnance Factory Board,” the PM said, adding that measures like simplified licensing field, level playing field, simplifying exports have also been taken.