India makes draft for DPEPP 2020
The policy aims at making the country self-reliant for the production of arms and making it a global arms dealing hub.
India’s Ministry of Defence (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020).
The policy aims at making the country self-reliant for the production of arms and making it a global arms dealing hub. The country currently stands as the third biggest importer of arms to facilitate the defence systems of the country.
The DPEPP 2020 will act as a benchmark document for the MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports.
The policy includes many goals and objectives such as achieving a turnover of INR 1,75,000 Crores including export of Rs 35,000 Crore (US$ 5 Billion) in Aerospace and Defence goods and services by 2025. The draft of the policy also clearly mentions the vision to develop a dynamic, robust and competitive Defence industry, including Aerospace and Naval Shipbuilding sector to cater to the needs of Armed forces with quality products, reducing dependence on imports and take forward "Make in India" initiatives. Through the policy, the government will aim at ramping up the defence budgets and also invite significant investments in arms and Defence R&D.