NEW DELHI: In an attempt to promote indigenous weapons over expensive foreign ones, defence minister Rajnath Singh on Sunday announced an import embargo on 101 items beyond given timeline to boost indigenisation of defence production under Atmanirbhar Bharat initiative.
In a series of tweets, Rajnath Singh made some major announcements and said that following the embargo on certain defence imports, it is estimated that contracts worth almost Rs 4 lakh crore will be placed upon the domestic industry within the next 6 to 7 years.
Of these, items worth almost Rs 1,30,000 crore each are anticipated for the Army and the Air Force while items worth almost Rs 1,40,000 crore are anticipated by the Navy over the same period. The embargo list includes, wheeled Armoured Fighting Vehicles (AFVs) with indicative import embargo date of December 2021, of which the Army is expected to contract almost 200 at an approximate cost of over Rs 5,000 crore.
The Defence Ministry has also bifurcated the capital procurement budget for 2020-21 between domestic and foreign capital procurement routes. A separate budget head has been created with an outlay of nearly Rs 52,000 crore for domestic capital procurement in the current financial year, Singh said.
Singh said that the ministry of defence took cue from Prime minister Narendra Modi’s clarion call for a self-reliant India and prepared the embargo list. This is a big step towards self-reliance in defence, Singh said.
Prime Minister Shri @narendramodi has given a clarion call for a self-reliant India based on the five pillars, i.e.… https://t.co/5sFTJvbIw4
— Rajnath Singh (@rajnathsingh)1596947437000
The defence minister said that this embargo will give an opportunity to the Indian defence industry to manufacture the items in the negative list by using