Defence Minister Manohar Parrikar pitches for investments in skill development

NEW DELHI: Asserting that there will be 50,000 high-skilled jobs in the aviation manufacturing sector in the next 2-3 years, Defence Minister Manohar Parrikar tonight pitched for investments in skill development.

Parrikar said that under the new off-set policy, defence firms can invest in skill development to comply with their required commitment.

The Minister, while making it clear that he was speaking as a former entrepreneur, said that the start-ups should be given five-year relaxation from taxes and other regulations.

Incidentally, Prime Minister Narendra Modi's new initiative Startup India offers a three-year tax rebate.

Speaking at an event organised by Wadhwani Foundation, Parrikar said the Government is also considering venture capitalist investment in defence sector.