Over Rs 70,221 cr worth defence budget outlay reserved for domestic procurement, says Rajnath

By business today

Union defence minister Rajnath Singh, during a webinar on the defence budget organised by the Society of Indian Defence Manufacturers (SIDM), said the ministry has set aside 63 per cent of the defence budget outlay for domestic procurement only to boost ‘Make in India’ and Atma Nirbhar Bharat.

“My Ministry has planned to invest about 63% of the outlay for 2021-22 on domestic procurement, i.e. about Rs 70,221 crore for domestic defence procurement during 2021-22. This increase will have a positive impact on enhanced domestic procurement, having a multiplier effect on our industries, including MSMEs and start-ups. It would also increase employment in the defence sector,” the minister said.

He said the Ministry of Defence has notified a ‘Negative list’ of 101 items for which there would be an embargo on import beyond the timeline indicated against them. “This is a big step towards achieving self-reliance in defence.

This would offer a great opportunity to the Indian defence industry to manufacture these items using their own design and development capabilities to meet the requirements of the Armed Forces in the coming years,” Singh said.

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