Chinmaya IAS Academy – Current Affairs Chinmaya IAS Academy – Current Affairs
Related Articles
The 12th edition of DefExpo will be held in Gandhinagar, Gujarat in March 2022.
Important points:
- DefExpo is a flagship biennial event of the Ministry of Defence, showcasing the land, naval, air as well as homeland security systems.
- The aim of the DefExpo 2022 is to build upon the vision to achieve Atmanirbharta’ in defence and reach the $5bn defence exports target by 2024.
- The 11th edition of DefExpo was held at Lucknow (Uttar Pradesh) in 2020.
- Revision of FDI Limit: The FDI limit in defence manufacturing under automatic route is raised from 49% to 74%.
- Project Management Unit (PMU): The government is expected to begin time-bound defence procurement and faster decision making by setting up a Project Management Unit (for contract management purposes).
- Reduction in Defence Import Bill: The government will notify a list of weapons/platforms banned for imports and thus such items can only be purchased from the domestic market.
- Separate budget provision for domestic capital procurement.
- Corporatisation of the Ordnance Factory Board: It will include a public listing of some units, ensuring a more efficient interface of the manufacturer with the designer and end-user.
