DefExpo: Parrikar launches Defence Procurement policy

RSTV Bureau
Defence Minister Manohar Parrikar at DefExpo in Goa. Photo: Twitter/ manoharparrikar

Defence Minister Manohar Parrikar at DefExpo in Goa.
Photo: Twitter/
manoharparrikar

Unveiling the Defence Procurement Policy on Monday, Defence Minister Manohar Parrikar said his government is committed to encourage Indian made defence products. Releasing the New Defence Procurement Policy at Defexpo venue in Goa, Parrikar said the new DPP will be ensure greater transparency and faster clearances in defence procurement..

“The Defence Procurement Procedure (DPP) can push the agenda of’Make in India’ and India’s target of achieving defence industry network,” said Parrikar.

Ensuring the policy meant to complement government’s ‘Make in India’initiative, he said government incorporated Indian Designed, Developed and Manufactured (IDDM)category to benefit local units.

The policy also increased the Foreign Direct Investment (in Defence sector) to 49 per cent which will be through automatic route.

Earlier in the day,  Parrikar inaugurated the biennial exhibition on Land, Naval and Homeland Security, the defence expo in South Goa.

The mammoth show is organized by Defence Exhibition Organization of Department of Defence Production from 28-31 March 2016 at Naqueri Quitol, Quepem Taluka, South Goa, and Goa.

A ministry release said that this year’s exhibition will be the largest Defexpo held till to date.

“In all, over 1000 companies, both foreign and Indian, are taking part in the exhibition this year. A total number of 490 foreign companies are participating this year against 368 in Defexpo 2014,”it said
Defence Minister Parrikar is scheduled to unveil India’s defence procurement policy during the event.
“We will launch the Defence Procurement Policy online during DefExpo. It will be put on Ministry’s website,” Parrikar told reporters ahead of the inauguration of the two-day mega event.

Government India is aiming to project the ‘Make in India’ in the event there by promoting Indian manufactured defence equipment, at the same time India is also patterning defence affluent countries like United States to bring in new technology.

“America has tremendous interest in cooperating with India,” US Consul General in Mumbai Thomas L Vajda said here ahead of the four-day DefExpo.

As per the ministry’s information, 950 delegations against 511 in 2014 are expected to visit the exhibition this year providing great synergy in business to business (B2B) activities during the short span of 4 days.

“47 countries from different continents will be taking part in the exhibition against 30 countries which participated in the last edition of Defexpo,” a release said.
The event will be open to public on 31 March 2016

The event will be open to public on 31 March 2016