A defense equipment manufacturing unit would come up in Orissa very soon. The proposed project has been dubbed as Defence Offset Project.An expert team headed by state-owned IDCOL would soon make a stock-taking visit to the defence factories existing in Orissa and West Bengal. IDCOL director M N Ray said that the skilled entrepreneurs, factories or private sectors would be identified through advertisements who can produce equipment used in defence department.
The list would be prepared soon and sent to the ministry of defence, he added. As per the guidelines of the Centre, the foreign companies, who sell war equipment worth more than Rs 300 crore to India would invest 30-50 percent amount in the country for establishment of defence equipment factories.
Since India procures defence equipment worth nearly 3 billion dollar from foreign exporters, there is a need to set up a defence equipment factory in the country and so Orissa has a fare chance. The proposed project can generate good employment in the state also. Our move is in a nascent stage. No detail analysis has been made on it. But the project is a profitable one, Ray said.
The list would be prepared soon and sent to the ministry of defence, he added. As per the guidelines of the Centre, the foreign companies, who sell war equipment worth more than Rs 300 crore to India would invest 30-50 percent amount in the country for establishment of defence equipment factories.
Since India procures defence equipment worth nearly 3 billion dollar from foreign exporters, there is a need to set up a defence equipment factory in the country and so Orissa has a fare chance. The proposed project can generate good employment in the state also. Our move is in a nascent stage. No detail analysis has been made on it. But the project is a profitable one, Ray said.
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