MoD releases draft Defence Production and Export Promotion Policy 2020

The Ministry of Defence (MoD) has formulated a draft Defence Production and Export Promotion Policy 2020 (DPEPP 2020), with the objective to make India self-reliance in defence manufacturing and to position the country amongst the leading countries of the world in defence and aerospace sectors.

Key goals and objectives of DPEPP 2020

To achieve a turnover of Rs 1,75,000 Crores (USD 25 Billion) including export of Rs 35,000 Crore (USD 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 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.