Addressing a webinar, PM Modi said efforts are being made to develop new technology and give big role to private players in defence sector.
He said, for many years, India has been one of the biggest defence importers.
PM Modi said, when India got independence, it had great capability in defence manufacturing and an ecosystem of defence manufacturing established over 100 years.
PM Modi bemoaned, that unfortunately, this subject couldn’t get requisite attention.
Prime Minister highlighted a decision to permit up to 74 per cent FDI in the defence manufacturing through automatic route.
Defence Minister Rajnath Singh also stressed on the need for reforms in the defence sector.
Rajnath Singh said, the focus is on Atmanirbhar Bharat and draft for defence production 2020 has been formed.
The Defence Minister also highlighted that the procurement procedure has been made simple and called for more investment in the defence sector.