KEY DEFENCE POLICY TO BE OUT SOON

New Delhi, July 29: The government is likely to unveil a major policy next month outlining a roadmap to build a robust defence production industry and make India one of the top five manufacturers of military equipment and platforms in the next 10 years.

Official sources said the final touches are being given to the policy before it is being placed before the Union Cabinet for approval.

They said a significant focus of the defence production policy (DPP2018) will be to invest adequate resources to develop critical technology for manufacturing state-of-the-art military platforms including fighter jets, attack helicopters and weaponry indigenously.

The DPP-2018 is likely to be released next month, the sources said.

According to the draft policy, the government is looking at achieving a turnover of `1,70,000 crore in military goods and services by 2025.

A Swedish think tank, in a report in March, said India remained the largest importer of military hardware in the world in the last five years,

Officials said the aim of the DPP would be to indigenously develop all major platforms which are being imported since in the last six decades.

According to official figure, India inked 187 contracts worth `2.40 lakh crore with foreign and domestic firms for various military equipment and weapons in the last four years. — PTI