Defence Minister Manohar Parrikar has said that the Defence offset policy will generate business to the tune of 15 billion US dollars in the next ten years.
Speaking at the inauguration of the 7th Strategic Electronic Summit of ELCINA in Bengaluru today, he informed that various defence procurements will be finalized this year.
This will encourage outsourcing to enhance productivity in the small and medium scale industries that has the potential to generate more jobs.
This sector supplied defence related equipments to the tune of 52,000 crore rupees last year as compared to 42,000 crore rupees in 2014.
The minister informed that defence procurements will go up from nine percent last year to 15 percent in this year. He said that the defence PSUs and Ordinance factories should be lead integrators of platforms and procure systems and components from the private sector.
This he said will speed up production of defence products.
Speaking at the inauguration of the 7th Strategic Electronic Summit of ELCINA in Bengaluru today, he informed that various defence procurements will be finalized this year.
This will encourage outsourcing to enhance productivity in the small and medium scale industries that has the potential to generate more jobs.
This sector supplied defence related equipments to the tune of 52,000 crore rupees last year as compared to 42,000 crore rupees in 2014.
The minister informed that defence procurements will go up from nine percent last year to 15 percent in this year. He said that the defence PSUs and Ordinance factories should be lead integrators of platforms and procure systems and components from the private sector.
This he said will speed up production of defence products.
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