India and US have finalised the new Framework Agreement on Defence Cooperation which would replace the existing Framework Agreement on Defence Cooperation, which expires in June, 2015.
Defence Production Policy focuses on greater self-reliance in defence production. Government has raised the FDI limit in defence production from 26% to 49% and liberalized the licensing regime. The Defence Procurement Procedure 2013 lays emphasis on providing the desired boost to indigenous Defence Industry by mandating a higher preference to the 'Buy (Indian)', Buy & Make (Indian)' and 'Make' categorisation in Capital Procurements.
This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri Prabhat Jhain Rajya Sabha today.
DM/HH/NM
Defence Production Policy focuses on greater self-reliance in defence production. Government has raised the FDI limit in defence production from 26% to 49% and liberalized the licensing regime. The Defence Procurement Procedure 2013 lays emphasis on providing the desired boost to indigenous Defence Industry by mandating a higher preference to the 'Buy (Indian)', Buy & Make (Indian)' and 'Make' categorisation in Capital Procurements.
This information was given by Defence Minister Shri Manohar Parrikar in a written reply to Shri Prabhat Jhain Rajya Sabha today.
DM/HH/NM
