DefExpo2016: Parrikar announces new defence procurement policy

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“Technology is changing almost every year and India is one country which has a huge pool of engineers and technology people who can convert many of the requirement of the defence forces and ensure production,” Parrikar said.

“We expect that (the) new policy will make the world take advantage of technological revolution across India,” Parrikar said at the inauguration of the defence show in Betul-Naqueri village near Panaji.

Parrikar also ensured the offsets or concerns of many foreign company’s have been taken care of, adding that the few pending ones will be tackled in the coming months. “Under the amended DPP we have ensured that the procurement takes place in a transparent manner but at a faster speed,” he said.

Besides, the policy will encourage local industry, by helping introduce top priority category called Indian Designed Developed and Manufacture (IDDM). “For Make in India FDI levels have to be increased to 49 per cent through automatic route and even higher percentage can be considered,” he said.

According to Parrikar, the government has de-listed 66 per cent of the items from defence export clearances.

Besides being proactive for ‘Make in India’, the government is also pushing for ‘Start up India’ by endorsing contribution of small and medium industry in defense sector, Parrikar added.

The inaugural session on the first day of the ninth edition of Defexpo India in Goa, was flooded with participants from 47 countries. It was followed by demonstrations by the military tanks and aerials displays.

Railways Minister Suresh Prabhu, Minister of State for Defence Rao Inderjit Singh, AYUSH Minister Shripad Naik and Goa Chief Minister Laxmikant Parsekar were also present at the event.