Land Acquired from Tamil Nadu and Uttar Pradesh Defence Corridors to increase Defence Production
On March 23, 2020, the Defence Ministry announced in the Parliament that it has acquired land from the State Governments of Uttar Pradesh and Tamil Nadu. As Land is state subject, it is important for the centre to acquire land from the state government for development projects.
Highlights
The GoI is planning to increase Defence Exports to 5 billion USD in next five years. In order to achieve this, the Government is expanding its investment opportunities. Thus, it has acquired land from the state governments in their respective defence corridors. The land acquired from Tamil Nadu so far is 1,182 hectares and from Uttar Pradesh is 1,537 hectares.
Policy initiatives in Defence Manufacturing
The GoI has taken several initiatives to increase manufacturing in Defence Sector. They are as follows
- The “Strategic Partnership” Model was introduced where the manufacturers shall make partnerships with Indian Entities and set up manufacturing units through technology transfers
- The FDI policy was revised for the defence sector where 100% investment is now allowed through Government route
- Defence Investor Cell was created to address the issues related to investments and its related regulatory measures.
Related Posts
Month: Current Affairs - March, 2020