Atamnirbhar Bharat: Defense Minister Rajnath Singh released a list of 101 military systems and weapons to eliminate dependence on imports to meet defense needs in the defense sector, promote self-reliant India and Make in India, whose imports will be banned for the next five years. And these weapon systems and weapons will be prepared in the country itself.
These 101 defense equipment will be made in the country
Releasing this list, Rajnath Singh said that the list of 101 military systems and weapons includes sensors, arms and ammunition, helicopters for the Navy, patrol ships, anti-ship missiles and anti-radiation missiles. He said, the third positive indigenization list of 101 defense equipment and platforms is being issued. With the release of this list, the rapid pace of our self-reliance in the defense sector can be gauged.
310 years list released
In fact, in August 2020, the first list of 101 items to be manufactured in the country was released, which included Todd artillery guns, short-range surface-to-air missiles, cruise missiles and coastal patrol ships. At the same time, in May 2021, the government had announced to make 108 more defense equipment, weapons and systems. The Defense Minister said that there are two objectives of releasing the list, first is to promote self-reliance in the defense sector and secondly to promote exports of defense equipment.
Estimated to spend $130 billion in 5 years
In the last few years, the government has taken several steps to promote domestic defense production. According to an estimate, India’s Armed Forces is going to spend 130 billion dollars on defense needs in the next 5 years. The central government wants to reduce dependence on imported military requirements by promoting domestic defense manufacturing. The Defense Ministry has set a target of USD 25 billion (Rs 1.75 lakh crore) business in defense manufacturing over the next five years, with a target of USD 5 billion (Rs 35,000 crore) exports of defense equipment.
shares of defense companies
After this announcement of the government, there was tremendous buying in the shares of the defense sector. HAL shares closed with a gain of 2.26 percent, Bharat Dynamics 9.45 percent, Bharat Electronics 6.80 percent, Reliance Naval 4.18 percent.