On Tuesday, the Ministry of Defense has ordered the Government Ordnance Factory Board to supply 156 Infantry Combat Vehicles (tanks) for Rs 1,094 crore. These advanced feature vehicles will be produced at the Ordnance Factory located at Medak in Telangana. The Defense Ministry issued a statement saying that there is a plan to include these vehicles in the army by 2023. They will be lighter in weight due to which their mobility will be more in the battlefield.
Its maximum speed will be up to 65 km per hour. With this purchase, the mechanized infantry battalion will be able to overcome the shortages and the military capability of the army will be increased. The Central Government said on Tuesday that the draft Defense Production and Export Promotion Policy is likely to be released within a month. This will give a big boost to the 'Make in India' program.
In a webinar organized by the PHD Chamber of Commerce, Defense Production Secretary Raj Kumar said, 'We are in the process of drafting the Defense Production and Export Promotion Policy and hopefully within a month we will send it to you for your feedback and comments. This will include all aspects of the announcements made by the Finance Minister on 16 May. Various defense companies also participated in the webinar. Raj Kumar said that apart from promoting indigenization, Make in India, and finding an alternative to imported goods, this policy will have all and many other things. He said, 'The idea is that in the process of indigenization, there is a possibility that investment cannot be justified.' Some kind of capital subsidy may be needed. We are considering this aspect. We will know your feedback and thoughts when the policy becomes public.