Preparations are being made to include defense companies making defense products in the top 50 companies of the world. For this, they will be strengthened on the front of technology, technology as well as marketing. In this, the Defense Corridor will come to the fore in a decisive role.
These companies will become big suppliers on the global platform
Through the Defense Corridor, a strategy is being worked out to make 15 companies as big suppliers on the global platform. Currently, two of the top 40 defense product companies in the world are state-owned companies from Russia. The remaining 38 companies are from the private sector in the US, Russia and Europe. Orders will be initiated from Philippines, UK, Switzerland, Denmark and neighboring countries.
Domestic orders of 30 thousand crore defense products
Companies will be given domestic orders of 30 thousand crore defense products. The Department of Defense Production, DGQA, Ordnance Factory or other large private sector have been included in this ambitious plan. Under this, the way has been opened for transfer of ordnance factories and merger of private companies with Technology Treaty (TOT). Now Ordnance Factories are free to enter into agreements with any company in the world on their own terms and conditions on the basis of their infrastructure.
According to a senior Ordnance Factory official, the parliamentary committee has recommended that efforts should be made to ensure that maximum number of indigenously manufactured military equipment is ordered for export.
This is the story behind India’s record $400 billion exports
The share of domestic capital procurement, which was fixed at 58 per cent and 64 per cent in the years 2020-21 and 2021-22, has been increased to 68% of the capital acquisition budget of defense services for the year 2022, which is about 85 thousand crore is Rs.