Defence ministry opens doors for private companies for making defence equipments

Defence ministry opens doors for private companies for making defence equipments

By: || Updated: 20 May 2017 05:26 PM

(Image: File/PTI)

New Delhi: Defence Ministry on Saturday has opened the doors for private sector for defence. Now private companies can contribute in the production of fighter planes, submarines and armored cars (bullet-proof).

Now private companies will be allowed and be able to help foreign companies in making high-tech equipments.

Defence purchase counsel under the leadership of Defence Minister Arun Jaitley gave a red flag to ‘strategic partnership’ on Saturday.

Defence ministry has prepared a set of guidelines, following which private companies would take part in production of high-tech defence equipments.

This would come into practice after a clearance from Cabinet Committee on Security (CCS). The same is being done keeping in mind Prime Minister Narendra Modi’s make-in-India campaign.

India’s first small weapons manufacturing unit of the private sector under ‘Make in India’, as claims the state government, was established in Bhind, more than 500 kilometers north of Bhopal on May 18.

The manufacturing unit was established in the partnership of Punj Llyod Company and Israel Weapons Industries in Malanpur Industrial area. Union minister for Panchayati Raj and Rural Development Narendra Singh Tomar and chief minister Madhya Pradesh Shivraj Singh Chouhan were present on the occasion, said the state government’s official spokesperson.

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