Raksha Udyog Ratnas to be announced by April
Chandigarh, Oct 24 (UNI) In order to promote private sector in defence production, the government would recognise various manufacturing units as 'Raksha Udyog Ratnas'(RURs) by April next.
These Raksha Udyog Ratnas (RURs) will be considered at par with defence public sector units (PSUs) or ordnance factories, said Defence Joint Secretary T Ramachandru, while addressing an interactive session on Private Sector Privatisation in Defence Industry organised by the CII here today.
As many as 45 applications had already come in this regard and they were under scrutiny. They would be cleared by April 2007.
He said the manufacturers applying for the RUR status were required to make an investment of Rs 100 crore in defence production and have a turnover of Rs 1,000 crore.
Appealing the industrialists of come forward in large numbers to join defence production, he said it would not only accrue big benefits to them but help the country in indigenisation of defence manufacturing.
The government would also fund the industry for the required development work and also provide them ''near'' level playing field.
A scheme was being chalked out to provide financial assistance to Small and Medium Enterprises (SMEs) interested in defence manufacturing. The scheme would be operational shortly, he added.
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