New Delhi: India will not only establish a strong defense industrial base but also become a reliable arms supplier to friendly countries in the years ahead. Prime Minister Narendra Modi on Thursday speaking at a defense industry outreach webinar which will further consolidate its strategic partnership and position it as the “Net security provider” in the Indian Ocean Region.

Modi also said his Government had taken several steps to increase defense production, promote development of new military technologies and maximize the private sector’s participation in the critical arena. “Our commitment to achieve self-reliance is not restricted to just talk or papers, he said. The effort in the last few years has been to break all shackles associated with the defense production sector. We are witnessing a mindset, self-confidence in the defense sector is very much important for a modern and Aatmanirbhar Bharat”, he said.

The Government’s resolve for Aatmanirbhar Bharat is not inward looking but aimed at boosting India’s production capabilities and helping the global economy and security become more stable, he said. Referring to the move to “Corporatize” the Ordinance Factory Board, which has 41 factories and 16 other entities under it, Modi said. It had been run like a Government department for decades. This “Limited vision” adversary impacted not only the country and the armed forces, but also its hardworking, experienced and talented workers, he added.

Defense Minister Rajnath Singh said the corporatization of OFB, which aims to convert it into one or more hundred percent Government owned public sector corporate entities, will be completed within a year. Modi said the recent negative arms import list, under which acquisition of 101 weapons systems and platforms from abroad will be progressively banned from December 2020 to December 2025, will be expanded to include more products. “Domestic industry will get more orders in the coming days”, said Modi, also referring to the decision to bifurcate the defense procurement budget between domestic and foreign capital acquisition this year.

Prime Minister pointed to the decision in May to hike the FDI limit to 74% from 49% in the defense production sector through the automatic clearance route. With India is huge market, foreign arms companies will greatly benefit by entering into joint-ventures with Indian companies, said Modi. We all collectively have to achieve the target of Aatmanirbhar Bharat. It is a win-win situation for everyone, including the public sector, private sector and foreign partners, he said. The Government is committed to provide a better eco-system, he added.

General Bipin Rawat, Chief of Defense Staff, said the 15 lakhs strong armed forces committed to “Hand-hold” the domestic industry in developing next generation military platforms and equipment.