{"id":211447,"date":"2022-10-21T20:12:00","date_gmt":"2022-10-21T14:42:00","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=211447"},"modified":"2022-10-21T20:12:00","modified_gmt":"2022-10-21T14:42:00","slug":"the-rs-40000-crore-defence-challenge","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-rs-40000-crore-defence-challenge\/","title":{"rendered":"The Rs 40,000-crore defence challenge"},"content":{"rendered":"\n

Source<\/strong>– The post is based on the article \u201cThe Rs 40,000-crore defence challenge\u201d <\/strong>published in the Business Standard <\/strong>on 21st October 2022<\/strong>.<\/p>\n

Syllabus: <\/strong>GS3- Security<\/p>\n

Relevance<\/strong>– Defence manufacturing<\/p>\n

News- <\/strong>The article explains the steps taken by the Indian government to boost defence and aerospace exports.<\/p>\n

Prime Minister Modi gave a call to the aerospace and defence industry to achieve an annual export target of Rs 40,000 crore.<\/p>\n

Defence Production Policy of 2018 aims to increase defence exports more than 10-fold from the existing level of Rs 2,000-3,000 crore annually to over Rs 35,000 crore.<\/p>\n

Defence exports have multiplied eight times in the past five years. It has reached to 13000 crore this year.<\/p>\n

What steps have been taken by the government?<\/strong><\/h5>\n

The government has created a policy framework for boosting aerospace and defence exports.<\/p>\n

Defence attaches posted at Indian embassies abroad have been tasked with seeking opportunities for military exports to their host countries.<\/p>\n

The government has created a liberalised trade environment for defence exports by eliminating structural obstacles to trade in arms.<\/p>\n

India has already obtained entry into three of the four global export control regimes: The Missile Technology Control Regime, the Wassenaar Arrangement, and the Australia Group. It is making efforts for entry into NSG.<\/p>\n

It has offered some neighbouring countries like Myanmar, the Maldives, and Sri Lanka credit lines to purchase Indian defence equipment.<\/p>\n

Defence PSUs are now required to have 25% of their turnover in exports.<\/p>\n

A nodal agency, the Indigenous Defence Equipment Exporters Association has been set up\u00a0 for processing defence export inquiries from prospective customers across the globe.<\/p>\n

What is the way forward?<\/strong><\/h5>\n

Instead of focusing on the export of low-value consumables such as ammunition, spare parts and aerospace components, India needs to concentrate on high-value, complex combat platforms.<\/p>\n

Defence forces should take a lead in inducting indigenous weaponry like Tejas fighters, the light combat helicopters, Dhruv and Rudra helicopters, the Arjun tank, Akash air defence systems.<\/p>\n","protected":false},"excerpt":{"rendered":"

Source– The post is based on the article \u201cThe Rs 40,000-crore defence challenge\u201d published in the Business Standard on 21st October 2022. Syllabus: GS3- Security Relevance– Defence manufacturing News- The article explains the steps taken by the Indian government to boost defence and aerospace exports. Prime Minister Modi gave a call to the aerospace and… Continue reading The Rs 40,000-crore defence challenge<\/span><\/a><\/p>\n","protected":false},"author":10320,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-211447","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704636548},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/211447","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10320"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=211447"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/211447\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=211447"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=211447"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=211447"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}