New Delhi [India], May 17 (ANI): Expressing happiness over the defence reforms announced by the government, as they will ensure timely implementation of modernisation projects, Chief of Defence Staff General Bipin Rawat on Sunday said that all issues for indigenisation of military weaponry, ammunition and equipment have been coordinated.
General Rawat was commenting on the announcements made by the Finance Minister on Saturday in which she notified the increase in Foreign Direct Investment (FDI) limit in defence sector from the existing 49 per cent to 74 per cent.
She had also announced the creation of a list of weapons and equipment whose import would be banned in the country, apart from a separate budgetary provision for acquisition from the domestic defence industry.
"We have been working together for adopting the whole-of-Government approach. All issues that are facilitating indigenisation in military weaponry, ammunition and equipment have been coordinated. We are happy to see the announcements because these will ensure timely implementation," Gen Rawat told ANI.
The CDS said that research and development in the defence sector "will witness a different approach where there can no longer be avoidable time and cost overruns."
His comment comes against the backdrop of delays in several projects in the defence sector in the last few decades.
General Rawat said the scope for private industry provided in the announcements "will usher in competitiveness".
On the increase in FDI limit, he said, "This will facilitate technology transfers and Defence corridors taking shape in right earnest."
The government has created two industrial corridors dedicated for defence in Tamil Nadu and Uttar Pradesh which are being promoted for creating defence industry ecosystem in the country.
The CDS said the defence forces on their part will come up "with qualitative requirements that are based on acceptable and desirable standards."
Gen Rawat stated that now "We are certain industry will also get the right message that it will no longer be business as usual instead there will be value for deliverance." (ANI)