India could have been in top 3 world economies in next 7-8 years if Covid-19 had not hit: Rajnath Singh

Credit: IndiaTimes- Published on August 11, 2020

Video credit: HT Digital Content
Published on August 11, 2020 -  05:18
Rajnath Singh hails ‘Atmanirbhar’ vision after India bans import of 101 items
Union Defence Minister Rajnath Singh spoke on Prime Minister Narendra Modi’s 'Aatmanirbhar Bharat’ vision. Singh said 'we can save large proportion of money by producing in India'. He inaugurated new projects as part of ‘Atmanirbhar Bharat Week’ celebrations. "PM Modi’s vision is one to boost our self-confidence. We can’t build self-confidence while relying on others. We can’t bring India among top 3 economies if we rely on others. We can save a large proportion of money if we produce in India. We can use the money to boost MSMEs related to Defence industry," the Defence Minister said. Singh on Sunday announced a ban on import of 101 items including weapons. Import of transport aircraft, light combat helicopters, others to be stopped by 2024. Step taken to boost India’s domestic defence industry. The step is in tune with government’s ‘Atmanirbhar Bharat’ initiative. Defence Expert Major General (Retd) Asthana welcomed the step. Asthana said, "No country can be military power unless its self reliant in defence industry. Decision to put ban on 101 items is a first major step towards self-reliance. Importing is costly, you pay in dollars, it can be choked anytime. For Make in India, it cannot be only government or private players. R&D Defence is very costly for private player, investment is risky. Now, certain money has been allocated & collaboration has been accepted. Indian industry can now find a partner with R&D base & manufacture in India.

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Rajnath Singh

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