Business Standard

Monday, January 06, 2025 | 09:26 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Make in India arms too? Jaitley says new defence manufacturing policy soon

Jaitley, however, did not give additional details on the proposed policy

Arun Jaitley
Premium

Finance Minister Arun Jaitley at a press conference after cabinet meeting in New Delhi

Arup RoychoudhuryAgencies New Delhi
The government is in “advanced stages” of formulating a new policy to increase domestic defence manufacturing and reduce dependence on imported high-tech military equipment, Finance and Defence Minister Arun Jaitley said on Friday.

“India is the world’s largest arms importer, spending some 1.8 per cent of its GDP (gross domestic product) on defence. It imports about 70 per cent of defence equipment, a proposition which the government wants to change,” Jaitley said at an event organised by the industry body CII.

“We are in the advanced stages of formulating a policy where we can ensure that instead of just being buyers, on

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in