Government revitalising defence PSUs and ensuring ease of doing business for private companies: Manohar Parrikar

BENGALURU: Defence Minister Manohar Parrikar today said the government is committed to creating an environment for defence in India. This will mean ease of doing business for private companies and revitalising the defence public sector undertakings. He also said efforts will be made to support greater capacities in design in India and foreign companies will be big investors.

Parrikar shared these developments while inaugurating Aero India-2017 here today. He also explained that the government had liberalised foreign direct investment.

“The government is committed to an environment for defence. The PSUs are being revitalised. I also recognise that defence industries do not provide quick decisions,” he said.

The Defence Minister also said, “Efforts will be made to support greater capacities in design in India. Foreign companies will be big investors. And to ensure research and development, the government is starting a defence innovation fund. The focus will be on start-ups to ensure culture of innovation.”

Two primary PSUs- the Hindustan Aeronautics Limited (HAL) and the Bharat Electronics Limited (BEL)- will create the fund to promote technology, Parrikar said.

The PSUs have also been given targets for outsourcing work to private companies.

Another area of focus will be time bound implementation of ‘Make in India’ projects such as Future Infantry Combat Vehicles (FICV). Twenty such projects have been identified.

Meanwhile, the minister also said the Aero India this year is a common platform for the defence and civil aviation sectors. “This year several companies in India and abroad will display new products including some being displayed for first time,” he said.