Highlights: PM Modi addresses defence industry outreach webinar

During the conference, PM Modi emphasised the need of making India self-reliant in the defence sector.
Prime Minister Narendra Modi.(Screengrab)
Prime Minister Narendra Modi.(Screengrab)
Updated on Aug 27, 2020 05:45 PM IST
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Hindustan Times, New Delhi | Byhindustantimes.com | Edited by Shivani Kumar

Prime Minister Narendra Modi on Thursday addressed ‘Atmanirbhar Bharat Defence Industry Outreach Webinar’ through video conferencing. During the conference, PM Modi emphasised the need of making India self-reliant in the defence sector.

Here are the highlights of the speech:

‘To make India capable and boost global peace’

Our resolve for ‘Aatmanirbhar Bharat’ not inward-looking, but for making India capable and boosting global peace and economy, said PM Modi.

‘To boost India’s ability of being net security provider in Indian Ocean’

Our work for ‘Aatmanirbhar Bharat’ will also boost India’s ability of being net security provider in Indian Ocean, said PM Modi.

‘To permit up to 74% FDI in the defence manufacturing ‘

A decision has been taken to permit up to 74% FDI in the defence manufacturing through automatic route, said PM Modi.

‘Give big role to private players in defence sector’

Efforts being made to boost defence production, develop new technology and give big role to private players in defence sector, said PM Modi.

‘Reform exercise not going to stop now’

We also saw labour reforms recently; reform exercise not going to stop now. They will continue and we will not be tired from it, said PM Modi.

‘For many years, India has been one of the biggest defence importers’

For many years, India has been one of the biggest defence importers. When India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years. Unfortunately, this subject couldn’t get requisite attention, said PM Modi.

‘To increase defence manufacturing in India’

We aim to increase defence manufacturing in India, said PM Modi during the conference.

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Sunday, June 26, 2022