India is the world's third most powerful military power country on the path of indigenization
India is the third-largest military spending country in the world after America and China, is now on the path of indigenization.
The seven new defense companies have been created by accommodating 41 ordnance factories. Many of these companies will meet the requirements of ammunition and explosives, while others will meet the shortage of vehicles for the army. Similarly every company will have a responsibility. Under the 'Self-reliant India' and 'Make in India' plans, India is now relying on itself to increase its military power. Let us know what has happened so far regarding indigenization in the defense sector.
09 August 2020: The import of 101 defense equipment from the central government has now been banned. With this decision of the government, now they will be produced and manufactured in India only. This list includes high technology weapons like assault rifles, sonar systems, transport aircraft, etc.
June 13, 2021: Approval of a budget of about Rs 499 crore for research and innovation in the defense sector. The fund will be used to provide financial assistance to around 300 startups, small, small, and medium industries (MSMEs), and individual innovators to achieve the goal of self-reliance in the defense sector.
01 October 2021: The Central Government dissolves the 200-year-old Ordnance Factory Board. This move of the government will get rid of the old technology of making ammunition. Private companies will make better military equipment.
2.1% will be spent on defense, an increase of 18.75% of the total GDP (2021-22) Defense capital outlay in the budget 2021-22
The defense budget of $ 71.84 billion presented in the budget 2021-22