'Defence exports have risen in past 6 to 8 months'
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.
 
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they became free-to-export, and freely tradable...So the restrictions of requirement of Defence NOC were automatically withdrawn.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.
  • User 

    We are listening!

    Solve the equation and enter in the Captcha field.
      Loading...
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email
    Close

    To continue


    Please
    Sign Up or Sign In
    with

    Email

    BUY NOW

    online financial advisory
    Pathbreakers
    Pathbreakers 1 & Pathbreakers 2 contain deep insights, unknown facts and captivating events in the life of 51 top achievers, in their own words.
    online financia advisory
    The Scam
    28 Year Of The Scam: The Perennial Bestseller, reads like a Thriller!
    Moneylife Online Magazine
    Fiercely independent and pro-consumer information on personal finance
    financial magazines online
    Stockletters in 4 Flavours
    Outstanding research that beats mutual funds year after year
    financial magazines in india
    MAS: Complete Online Financial Advisory
    (Includes Moneylife Online Magazine)