Bengaluru: Defence aviation and electronic public sector majors HAL and BEL will together contribute initially to the innovation and technology fund in the defence sector to promote start ups, Defence Minister Manohar Parikkar today announced.
Inaugurating the 11th edition of the Aero India show here, Mr Parikkar said the defence PSUs will also be encouraged to take up greater outsourcing from the private sector besides vendor development.
Highlighting various policy initiatives taken by the Narendra Modi Government to open up foreign director investment and private sector participation in Defence production, the Minister said more initiatives were in the offing and the ministry was contemplating certain policy changes to ensure slowly but surely the indigenous defence production gets the necessary fillip. He said the make in India programme had resulted in Defence Research and Development Organisation rolling out nearly 20 products in the last couple of years.
He said the government would also open its arms fully to foreign investors who take up design, develop and produce defence equipments in India.
14/02/17 UNI/Web India123
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Inaugurating the 11th edition of the Aero India show here, Mr Parikkar said the defence PSUs will also be encouraged to take up greater outsourcing from the private sector besides vendor development.
Highlighting various policy initiatives taken by the Narendra Modi Government to open up foreign director investment and private sector participation in Defence production, the Minister said more initiatives were in the offing and the ministry was contemplating certain policy changes to ensure slowly but surely the indigenous defence production gets the necessary fillip. He said the make in India programme had resulted in Defence Research and Development Organisation rolling out nearly 20 products in the last couple of years.
He said the government would also open its arms fully to foreign investors who take up design, develop and produce defence equipments in India.
14/02/17 UNI/Web India123
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