The government has reserved 75% of the defence capital acquisition budget, which amounts to approximately ₹1 lakh crore, for purchases from local companies, Defence Minister Rajnath Singh said on November 2.
The move is to ensure adequate demand assurance for the domestic industries, he said at the 'India Manufacturing Show-2023' in Bengaluru, as he listed the steps taken for MSMEs in the defence sector.
“We are the first government which imposed restrictions on itself for the import of weapons. We released five positive indigenisation lists, under which 509 equipment have been identified, the manufacturing of which will now take place in India," Mr. Singh said.
