08-09-21 Daily-Gujarat-GPSC Current Affairs

The 12th edition of DefExpo will be held in Gandhinagar, Gujarat, in March 2022.

Highlights:

DefExpo is a flagship biennial tournament of the Ministry of DEFENCE, showcasing the land, naval, air as properly as fatherland security systems.

The goal of the DefExpo 2022 is to construct upon the vision to gain Atma Nirbharta in defence and reach the $5bn defence exports goal via 2024.

The eleventh version of DefExpo used to be held at Lucknow (Uttar Pradesh) in 2020.

Defence Sector Reforms Under Atmanirbhar Bharat Abhiyan:

Revision of FDI Limit: The FDI limit in defence manufacturing below automatic route is raised from 49% to 74%.

Project Management Unit (PMU): The authorities are expected to commence time-bound defence procurement and quicker decision-making by building up a Project Management Unit for contract management.

Reduction in Defence Import Bill: The authorities will notify a list of weapons/platforms banned for imports, and accordingly, such objects can solely be purchased from the Home market. Separate budget provision for home capital procurement.

The corporatisation of the Ordnance Factory Board: It will encompass a public list of some units, making sure a greater Environment friendly interface of the manufacturer with the designer and end-user.