New Delhi: In a bid to encourage the domestic defence industry, the government will soon come up with a new defence production policy. “Government is in the process of formulating a defence production policy to enhance indigenous capabilities to manufacture our requirement for defence equipment,” defence minister AK Antony informed the Lok Sabha. on Tuesday
Antony said that the policy would aim to involve both the public and private sector to manufacture defence equipment. The ministry of defence has issued 144 industrial licenses in addition to letters of intent to various domestic equipment manufacturers. Further, the ministry aims to initiate a modernization program for the Ordinance Factory Board (OFB) and the defence public sector undertakings (DPSUs).
The ministry is also in the process of formulating a new defence procurement policy (DPP-2010), which is likely to be implemented by November this year.