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The Defence Ministry will “introduce import embargo on 101 items beyond given timeline to boost indigenisation of defence production”.
- The Ministry of Defence has prepared a list of 101 items for which there would be an embargo on the import beyond the timeline indicated against them.
- The government intends to reach a turnover of $25 billion through indigenously manufactured defence products and also expects to export products worth $5 billion.
- Government has also decided that in any government contract over ₹200 crore, no foreign company can participate in the tendering process, to help Indian Manufacturers.
- The embargo on imports is planned to be progressively implemented between 2020 to 2024.
- The aim is to apprise the Indian defence industry about the anticipated requirements of the Armed Forces so that they are better prepared to realise the goal of indigenisation.
-Source: The Hindu, Hindustan Times