Mr. Tribhuvan Darbari Lauds The ‘Defence Production and Promotion Policy 2020’
Appreciating the new DPEPP 2020, Mr. Tribhuvan Darbari – MD & CEO, Texmaco Defence said, “The ‘Defence Production and Promotion Policy 2020‘ is perspicacious and commendable.” According to Defence Production and Promotion Policy 2020, the government is eyeing a turnover of Rs 1.75 lakh crore (USD 25 billion) in defence manufacturing by 2025 as it has identified the sector as a potential driver to boost the overall economy, according to a draft of a major policy prepared by the defence ministry.”
Mr. Tribhuvan Darbari further added that knowing the fact that India is one of the largest arms importers in the world, the initiative was much needed. The external dependence on weapons, spares and ammunition puts India at risk during military crises. In addition to that access to advanced technology is a major concern in the case of imported arms. Self-reliance in defense manufacturing is a crucial component of effective defense capability and to maintain national sovereignty and achieve military superiority. The target of a turnover of Rs 1.75 lakh crore (USD 25 billion) in defence manufacturing by 2025 will make the sector a potential driver to boost the overall economy.
Mr. Tribhuvan Darbari believes that the government will be successful in its aim to encourage research and development (R&D), reward innovation, create Indian Intellectual Property (IP) ownership and promote a robust and self-reliant defence industry. The attainment of this will ensure strategic independence, cost-effective defence equipment and may lead to saving on defence import bills, which can subsequently finance the physical and social infrastructure.
The goals of this policy are as follows:
- The government aims for a turnover of Rs. 1,75,000 crore including export of Rs. 35,000 crore in Aerospace and Defence goods and services by 2025.
- The government wants to develop a dynamic, robust and competitive Defence industry, including the Aerospace and Naval Shipbuilding. There are a lot of opportunities in this sector. The industry would cater to the needs of Armed forces with quality products.
- It will also reduce dependence on imports and boost the “Make in India” movement through indigenous design and development.
- It will also promote the export of defence products and become part of the global defence value chains.
