India's Defence Ministry Unveils 5th Positive Indigenisation List, HAL, BEL, Mazdock Participate
Take Stock Of The Week Ahead

Get all the latest Share Market trends and news to set you up for the week ahead.

Congratulations!
You have successfully subscribed.

In a major stride towards self-reliance in defence, India’s Department of Defence Production (DDP), under the Ministry of Defence, has unveiled the fifth positive indigenisation list (PIL), encompassing 346 items.

What Happened: The DDP rolled out the fifth PIL, which includes strategically crucial line replacement units, systems, sub-systems, assemblies, sub-assemblies, spares and components and raw materials. These items, amounting to ₹1,048 crore in import substitution value, will be procured solely from Indian industries as per the indigenisation timelines specified on the Srijan portal.

The Srijan Portal was initiated by the Ministry of Defence in 2020 to present defence items to industries, including micro, small and medium enterprises and start-ups, for indigenisation. “Prime Minister Shri Narendra Modi's significant impetus for ‘Aatmanirbhar Bharat' has produced remarkable outcomes in the indigenisation of defence items,” the press release mentioned.

See Also: Top 15 Defence Stocks Ranked By Order Book Value

The indigenisation of the items listed in the fifth PIL will be undertaken by defence public sector undertakings (DPSUs) through various channels. This initiative is anticipated to stimulate economic growth, increase defence investment, decrease import dependence, and enhance the design capabilities of the domestic defence industry.

The DPSUs participating in the fifth PIL include Hindustan Aeronautics Limited (HAL), Bharat Electronics Limited (BEL), Bharat Dynamics Limited (BDL), BEML Limited, India Optel Limited (IOL), Mazagon Dock Shipbuilders Limited (MDL), Goa Shipyard Limited (GSL), Garden Reach Shipbuilders & Engineers Ltd (GRSE), and Hindustan Shipyard Limited (HSL).

Read Next: LIC FIIs Raise Stake In Bharat Forge, SBI Life Cuts Shareholding In June Quarter


Engineered by Benzinga Neuro, Edited by Utkarsh Roshan


The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.


Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Comments
Loading...
EquitiesGovernmentRegulationsMarketsBELHALMazagon Dock Shipbuilders