Controversy, courtesy DIG Loshali, aside, here is a quick takeaway from the PM’s speech at #AEROINDIA2015


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1. Defence sector in India i.e govt sector employs 200,000 and thousands of private sector persons

2. Private sector in defence is still in nascent stage

3. 60% defence equipment imported into India

4. Even 20% reduction in imports can create thousands of jobs here for us

5. Focussed on developing defence industry in India as a mission. We are reforming our procedures

6. Procurement needs to be simple and accountable

7. FDI can go higher than 49 if state of art technology is brought to India

8. Industrial permits have been demolished where they could have been

9. Will give clear preference for make in India

10. Offsets are crucial. Significant reforms in offsets and I know many are required and we will pursue them. Offset should not be about exports of low end products but about high end tech

11. For too long R&D in govt labs. We must involve outsiders like universities, industry experts, scientists etc.

12. We have made export policies simpler, clear

13. India’s record in arms proliferation has been impeccable and will remain so

14. Need to further reform arms acquisition processes

15. Will launch technology development fund

16. Must ensure our tax system does not discriminate against domestic manufacturers against imports

17. We have worked hard in eight months to create the right environment for you.

18. Today is the beginning of a new era of Defence industry

19. We have been assembling without absorbing. IN MANY CASES WE ARE WHERE WE WERE THREE DECADES AGO. FRANKLY OUR PUBLIC SECTOR NEEDS TO DO MUCH MORE THAN WHAT IT IS DOING TODAY

20. Foreign firms must turn into partners on strategic production

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