New Delhi, Jan 19 (KNN) After simplification of Make II procurement norms to encourage private players to develop and manufacture Defence equipment. Sitharaman inducted its first ever Defence ministry Development Meet on Thursday in Chennai.

The prime focus of the meet was to pave way for building partnership with the incumbent firms and industry for Defence production.

Defence minister Nirmala Sitharaman said “with the industry’s increased participation in Defence production, the country can become  exporter of products in the future from the current status of being the third-largest country that imports such equipment.”

In order to promote Indigenization i.e. to increase participation of local vendors the Army, Navy and Air Force are projecting their requirements, especially related to MSMEs.

Across major cities these kinds of event are likely to happen in order to attract small industries and start-ups. In this 2 day development meet Sitharaman has also launched Defence Investors Cell of Defence Production which will open the doors of investment in Defence production sector.

The Defence Investor Cell will directly interact with all interested investors on potential investment and the queries related to policy and the projects handled by the Ministry of Defence.

“India will host its popular Defence Exhibition, Defence Expo, in Chennai between 11 and 14 April 2018 “, the Minister further informed. (KNN/YV)