Government Schemes & Policies
- Posted By
Polity & Governance
5th Aug, 2020
- The Ministry of Defence has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020).
- Goals & Objective:
- Its goal is to achieve a turnover of Rs 1, 75,000 Crores (US$ 25Bn) including export of Rs 35,000 Crore (US$ 5 Billion) in Aerospace and Defence goods and services by 2025.
- To develop a dynamic, robust and competitive Defence industry, including Aerospace and Naval Shipbuilding industry to cater to the needs of Armed forces with quality products.
- To reduce dependence on imports and take forward “Make in India” initiatives through domestic design and development.
- To promote the export of defence products and become part of the global defence value chains.
- To create an environment that encourages R&D, rewards innovation, creates Indian IP ownership and promotes a robust and self-reliant defence industry.
- This will provide impetus to self-reliance in defence manufacturing.