New Delhi: The Ministry of Defence on Monday has released draft Defence Production and Export Promotion Policy 2020 to achieve a turnover of Rs 1,75,000 Crores (USD 25 billion) including export of Rs 35,000 Crore (USD 5 billion) in Aerospace and Defence goods and services by 2025.
According to the ministry, multiple announcements were made under 'Atmanirbhar Bharat Package' to provide impetus to self-reliance in defence manufacturing.
"In implementing such framework and to position India amongst the leading countries of the world in defence and aerospace sectors, the Ministry of Defence formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020). The DPEPP 2020 is envisaged as overarching guiding document of MoD to provide a focused, structured and significant thrust to defence production capabilities of the country for self-reliance and exports," read a release by the ministry.
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The goal of the policy is to develop a dynamic, robust and competitive Defence industry, including Aerospace and Naval Shipbuilding industry to cater to the needs of Armed forces with quality products.