In a major reform initiative to boost the domestic defence industry, Defence Minister Rajnath Singh on Sunday announced restrictions on import of 101 weapons and military platforms, including artillery guns, assault rifles and transport aircraft.
The embargo list not only comprises “simple parts”, but also weapon systems like artillery guns, assault rifles, corvettes, sonar systems, transport aircraft, Light Combat Helicopters and radars, among others.
Defence Minister Rajnath Singh says the arms import embargo will be progressively implemented between 2020 and 2024.
In an exclusive with Network18's Group Editor-in-Chief Rahul Joshi, Kamath spoke about a host of subjects, ranging from the state of the economy, the handling of the coronavirus pandemic by various nations to the government's Atmanirbhar Bharat scheme, among other things
Policymakers must consider Indian investors as brand ambassadors. Unless local manufacturers get enthusiastic and gung ho, the overseas investors will not come running.
Bhargava said the public sector is a big drag on our ability to become competitive in manufacturing.
The report notes that despite the MSME-focussed steps announced by the Centre as part of the financial relief packages, the sector continues to experience stretched liquidity "given the long credit period extracted from MSMEs by large corporates, many of which have sufficient liquidity of their own."
A Make in India filter has also been enabled on the portal. With this, buyers can choose to buy only those products that meet the minimum 50 percent local content criteria
Speaking at a webinar on 'Atmanirbhar Bharat: Fostering Domestic Steel Usage in Oil & Gas Sector', he said construction of a new 60 million tonnes a year west coast refinery, which is crucial to the capacity doubling plan, will start soon.
Urging India Inc to take advantage of the opportunity thrown up by COVID-19 crisis, he said, those with lower leverage should not shy away from making fresh and bold investment in the new strategic sectors.
The security forces have been asked to provide their requirement and to cut down on the import of arms and ammunitions which can be easily developed with the help of local manufacturers.
Merchandise imports and exports as a proportion of GDP have been falling for years.
As per earlier norms, government contracts below Rs 50 lakh were reserved exclusively for bidders which had more than 50 percent local content. Moreover, there was no classification of suppliers to government companies
Government data shows that the total size of India's trade with China was $87 billion in 2018-19, and electronics accounted for $20.6 billion of total imports from China.
Prime Minister Modi, speaking at a CII event, said that 'India needs to make Made in India products that are made for the world'.
Firms that have not provided information sought by KPKB have also been delisted.
Investors should ideally place small amounts in different sectors to take advantage of the multiplier effect which the economic package could have over a period of time.
Under this scheme, MSMEs borrowers with up to Rs 25 crores of total borrowing can avail an additional 20 percent of the loan outstanding from banks, NBFCs, and other financial institutions (FI).
NBFCs were shocked to know that both the schemes carried very short repayment tenures and therefore, were of little help to them
It is because India’s culture and tradition speak of self-reliance, or being atma nirbhar, that both Jawaharlal Nehru and Narendra Modi are united in their views on how India should tackle a crisis
The package of Rs 20 lakh-crore covers an extensive range, but it falls short of meeting the concerns of the poor. The liquidity measures taken by the government were from the supply side; it needs a concrete fiscal stimulus to revive demand
Sakshi Batra decodes the last set of measures announced by Finance Minister Nirmala Sitharaman of the stimulus package for Atmanirbhar Bharat
FHRAI said, “The entire industry is confused, hysterical and in disbelief after listening to the FM’s speech. There was no mention of hospitality and tourism at all."
Atmanirbhar Bharat: Here's a complete list of reforms announced by Finance Minister Nirmala Sitharaman to reduce the impact of the coronavirus pandemic and the resultant lockdown on the Indian economy.
On May 15, the Finance Minister announced the third tranche of Centre's economic package for the rehabilitation of farmers and allied industries.