Defence Minister Nirmala Sitharaman has issued directions to officials for addressing top military firms' concerns over licensing and tax issues. <br/><br/>She reiterated the government's commitment to facilitating private sector's participation in defence manufacturing. <br/><br/>The Defence Minister issued direction after interaction with CII representatives consisting of Indian companies and foreign Original Equipment Manufactuerers, OEMS, at a round table on Energising 'Make in India' in defence sector yesterday.<br/><br/>The defence ministry in a statement said ways to streamline the offsets regime and creation of a tiered defence industrial ecosystem with full integration and skilling of manpower in the Micro, Small and Medium Enterprises sector were also deliberated upon at a round table.<br/><br/>Mrs. Nirmala Sitharaman conveyed to the top executives of the private defence industry that the government is fully committed to remove all the stumbling blocks and facilitate private participation in defence manufacturing with the objective of bringing high value foreign investment into the sector. She also asked the officials to ensure timely conclusion of procurement proposals.
News On AIR | October 29, 2017 8:37 AM
Defence Minister assures defence firms over licensing, tax concerns