Making it obvious by now that the Indian Government is rigorous about the ‘Make in India’ drive, Defence Minister Arun Jaitley gave another reason to affirm the notion, as he hinted on incentives to be offered to defence manufacturers, as a measure to encourage domestic manufacturing endeavours in the sector. Taken to be a serious move to end imports of combat planes, ships, submarines and other defence equipments.
In a media interview, the minister said, that the government is devising a policy with clauses offering incentives to companies for setting up manufacturing plants in India.
“We have so far liberalised our rules as far as investment is concerned… our companies, both defence PSUs, and private sector companies have already started entering into arrangements with international majors with the object of establishment of manufacturing units in India,” he said.
“Now, in the context of defence, the government is the only buyer and therefore, people will establish units only if there is a likelihood of they getting business and therefore, our policies have to be tuned to this reality,” he further stated.