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Draft Defence Export Policy
Why is it in news?
- Ministry of Defence put out a draft ‘Defence Production & Export Promotion Policy (DPEPP) 2020’ for public feedback.
Defence Production & Export Promotion Policy 2020:
- Aim:
(1) Achieving a manufacturing turnover of $25 bn or ₹1,75,000 crore, including exports of $5 bn in aerospace and defence goods and services by 2025.
(2) Enhance the defence procurement from domestic industries.
- Subject to strategic considerations, domestically manufactured defence products will be promoted through Government to Government agreements and Lines of Credit/Funding.”
- Aerospace industry: The opportunities in the aerospace industry have been identified in the following segments — aircraft build work, aircraft Maintenance, Repair and Overhaul (MRO), helicopters, engine manufacturing and MRO work, line replaceable units, Unmanned Aerial Vehicles and upgrades and retrofits.