CII Defence and Aerospace Subcommittee ER Meeting Held on 29 June 2021 Under the Chairmanship of Tribhuvan Darbari

CII Defence & Aerospace Subcommittee ER held on 29 June 2021 under the Chairmanship of Mr. Tribhuvan Darbari, Chairman CII Defence & Aerospace Subcommittee ER. The Defence Ministry has decided to earmark around 64% of its modernisation funds under the capital acquisition budget for 2021-22, a sum of Rs 70,221 crore for purchases from the domestic sector. For FY 2020-21, the capital budget allocation for domestic vendors was made at 58%, an amount of Rs 52,000 crore. Moreover, the government has taken initiatives like de-licensing, deregulation, export promotion, encouraging FDI, etc to liberalise the defence industry. In the last 3 years, 118 of the total 191 projects which have been sanctioned have gone to the Indian industries.