Home ECONOMY ‘Defence exports have risen in past 6 to 8 months’

‘Defence exports have risen in past 6 to 8 months’

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Panaji, May 4:

The Make in India campaign would have increased India’s defence exports over the past six to eight months, Defence Minister Manohar Parrikar said on Monday.

Manohar Parrikar, Defence Minister
Manohar Parrikar, Defence Minister

Parrikar was speaking to reporters here during a two-day visit to the state.

“Actual export figures will come after some time,” Parrikar said, when asked if measures taken by his ministry to boost defence-related export had worked.

“Many of the items from defence ministry list have been de-listed, export has been opened…During last six-eight months the export NOCs are being granted online. There is no complaint…Earlier NOCs used to take months to be given; now we give them within specified time frame. I have been intimated by the industry itself that they have been getting the export NOC within the time, in fact, faster than they expect,” Parrikar said.

Parrikar also said that the Make In India policy was the highlight of the defence procurement procedure, under which 49 percent foreign direct investment was permitted in the defence sector and on a case to case basis, the FDI could go up even up to 100 per cent.

He also said that currently the global component in defence procurement was a small one, and the majority of the items were made in India.

Parrikar also said that de-listing of nearly two-thirds of the items from the defence ministry list had encouraged manufacture and free trade in the sector.

“When we deleted some items, they became free-to-export, and freely tradable…So the restrictions of requirement of Defence NOC were automatically withdrawn. Almost two-third items have been removed from the list, so now you have more items which you can freely manufacture and export,” Parrikar said. (IANS)