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350 licenses issued to private firms in defence since 2014 says defence minister

Rajnath Singh, the defence minister, said on Friday that 350 licenses have been granted to private companies since 2014, up from 200 between 2000 and 2014. 

India’s defence exports have increased 334 percent in the last five years, with the nation now exporting to 75 countries, according to defence minister Rajnath Singh. In order to boost the country’s defense manufacture ecosystem, the government is considering a centrally sponsored scheme to encourage investments in defence industrial corridors. 

Moreover, he said that the anchor defence industries will identify potential areas for research and development and manufacturing, mentioning that major domestic businesses and overseas OEMs have been invited not only to tap into the potential of the UP Defence Industrial Corridor (UPDIC), but also to hear their opinions. 

Approximately 64 percent of the government’s modernisation funds under the capital acquisition budget for 2021-22 will be allocated for purchases from domestic companies, Rajnath Singh said. 

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