In this issue

THE POLITICAL MANAGEMENT of defence is a high point for the Narendra
Modi government. It has shown the willingness to use the military as an
instrument of statecraft. The defence sector reforms undertaken by it have
been the most significant since India’s Independence. Of great salience is
the Aatmanirbhar Bharat agenda for defence production. Outcomes in the
defence and aerospace sector could well be the most visible indicators of the
success of the Make in India initiative.
Apart from aiming for strategic autonomy to be able to produce weapons
indigenously, India now also seeks to leverage the annual $70 billion spend on
defence for larger economic good by making the domestic economy the biggest
stakeholder in the programme, which is how defence spend through the Make
in India prism becomes a public issue. Earlier this year, India amended its
Defence Acquisition Procedure, barring routine military equipment imports.
The Union Defence Minister will now be required to approve exceptions to
this rule in case of critical operational necessity. The decision conveys the
seriousness of the government’s intent to finally walk the talk after the tepid
industry reponse to its earlier indigenisation efforts.

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BW Businessworld is a fortnightly magazine that has been published since 1975. It is one of the most popular business magazines in India, and it is known for its in-depth reporting and analysis of the Indian business world. It also features interviews with leading business leaders and entrepreneurs. It's a guide to the ever-changing business landscape.

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