New Delhi, July 18 (IANS) The government has finalised the policy on strategic partnerships in the defence sector, Union Minister of State for Defence Subhash Bhamre told the Rajya Sabha on Tuesday.
The policy is intended to institutionalise a transparent, objective, and functional mechanism to encourage broader participation of the private sector in manufacture of major defence platforms and equipment such as aircraft, submarines, helicopters and armoured vehicles, Bhamre said in a written reply.
“It is expected that its implementation will enhance competition, increase efficiencies, facilitate faster and more significant absorption of technology, create a tiered industrial ecosystem, ensure development of a wider skill base, trigger innovation…,” an official statement quoting the Minister said.
It said the policy would also promote participation in global value chains as well as exports, leading to reduction in dependence on imports, and greater self-reliance and dependability of supplies essential to meet national security objectives.
The policy has been uploaded on the Defence Ministry website.