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.

You are here

💡 newsR Knowledge: Other News Mentions

Coronavirus disease 2019

Infectious respiratory disease caused by severe acute respiratory syndrome coronavirus 2
Trump said that the pandemic was China's fault, but Biden tried to deflect China's role wanting to pin the blame for its ravages on Trump.
Credit: DNA - Published 51 minutes ago

India's Covid-19 caseload raced past 62 lakh on Wednesday with 80,472 infections being reported in a day, while the number of recoveries surged to 51,87,825..
Credit: IndiaTimes - Published 55 minutes ago

Rajnath Singh

Defence Minister of India
Apart from Singh, Chief of Defence Staff (CDS) General Bipin Rawat also participated in the event, being held via video conferencing."DISC-4 challenge will surge..
Credit: IndiaTimes - Published 20 hours ago

The defence ministry on Monday approved arms acquisitions worth another Rs 2,290 crore, including the procurement of 72,000 more assault rifles from the US, amid..
Credit: IndiaTimes - Published 2 days ago

The Prime Minister remembered the role played by Singh, which included his stints as the External Affairs and Finance Minister during the tenure of former Prime..
Credit: IndiaTimes - Published 3 days ago

Related videos from verified sources

Rajnath Singh releases negative list of 101 items to promote indigenization in defence production 01:58
Credit: ANI - Published on August 13, 2020 

Rajnath Singh releases book chronicling VP Naidu's 3 years in office 02:38
Credit: ANI - Published on August 11, 2020 

You might like