New defence reforms to boost both production, research in military sector: DRDO chief

Reacting positively to the reforms announced in the defence sector, DRDO chairman Dr G Satheesh Reddy on Saturday said that the measures will help boost the defence production and research in the sector within the country.

Reacting positively to the reforms announced in the defence sector, DRDO chairman Dr G Satheesh Reddy on Saturday said that the measures will help boost the defence production and research in the sector within the country. "The decision to ban imports of certain weapons and platforms, indigenisation of imported spares, budget allocation for indigenous capital procurement are major steps towards self-reliance and will boost defence industry in the country," the DRDO chief said.

He was asked to comment on the defence reforms announced by Finance Minister Nirmala Sitharaman. The Finance Minister, who had held the defence portfolio in the first Narendra Modi-led government, announced the increase in Foreign Direct Investment (FDI) limit on defence from existing 49 per cent to 74 per cent.

She also announced the creation of a negative import list as well as the creation of separate budget allocation for acquiring indigenous capital goods. Reddy said that with these decisions, big importance will be given by the private and public sector industry to do research and development in the field of advanced systems.

The DRDO chairman said the decisions will encourage both private and public sector industry to increase indigenous content in the inventory of armed forces and will help the country become self-reliant in the sector. (ANI)

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