New Delhi9 minutes ago
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The Defense Ministry on Wednesday banned the import of 351 defense products. According to the ministry, the import of all these products will be stopped in 3 stages. In the last 16 months, three such lists have been issued by the ministry. With this decision, there will be a foreign currency saving of Rs 3 thousand crores. Along with this, another list released has given information about 2500 such devices, which have now started making completely in India.
Import will stop in 3 years
The import of all these defense products will be stopped in the next 3 years, the ministry said. In the first phase, the import of 172 products will stop by December next year. After this, the import of 89 equipment will be abolished by December 2023. Lastly, by December 2024, the import of 90 items will be completely stopped.
From laser warning sensor to cable and socket included
The devices that have been banned include laser warning sensors, high pressure check valves, high pressure globe valves, drainage intrusion detection systems, and a variety of cables, sockets and voltage control oscillators. In August last year, the ministry had announced a halt to the import of 101 weapons and army platforms by 2024. These weapons and army platforms include transport aircraft, light combat helicopters, conventional submarines, cruise missiles and sonar systems.
To promote Make in India
The government is taking many steps to promote defense manufacturing in the country. In a list released in May, imports of 108 Army weapons and systems such as next-generation corvettes, airborne early warning systems, tank engines and radars were halted. In May last year, the government had announced to increase the FDI limit under the automatic route in the defense sector from 49% to 74%.
India is one of the largest arms importing countries in the world. According to an estimate, the Indian Army will buy weapons worth $130 billion in the next 5 years. Through these decisions, the government wants to promote the ‘Make in India’ program in the field of army equipment.