Defence Conclave, 2020 in Gujarat
On June 25, 2020, the Raksha Rajya Mantri Shri Shripad Naik inaugurated a two-day Defence Conclave 2020 in Gujarat.
Highlights
The minister addressed the conference virtually. The conclave was organized by the Confederation of Indian Industry and Society of Indian Defence Manufacturers.
About the Conclave
The Conclave will bring together the government representatives and serve as a platform to discuss and exchange view points about the defence policies.
The Conclave aims to strengthen “Make in India” initiative. India is currently working towards the target of increasing defence exports to 5 billion USD in next 5 years.
Significance
The Conclave will help the MSMEs serving the Ordnance Factories and Defence Public Sector Companies. There are more than 8,000 MSMEs that are serving Defence industries in Gujarat.
Atma Nirbhar Bharat Abhiyan
During her announcement on Atma Nirbhar Bharat Abhiyan, the Finance Minister Nirmala Sitaraman made three announcements for “Self-Reliance in Defence”. This includes
- Ban on Imports
- Corporatization of Ordnance Factory Board
- The FDI limits Defence Manufacturing was increased from 49% to 74%
Related Posts
Month: Current Affairs - June, 2020