Que. What is a Defence Industrial Corridor and why is it in news?
Ans.
1. A defence corridor refers to a route or a path along which domestic productions of defence equipment by public sector, private sector and MSMEs are lined up to enhance the operational capability of the defence forces.The government has now opened up private investment in defence production including liberalising foreign direct investment.Apart from improving the connectivity of the defence forces, the move will encourage domestic production of defence equipments and benefit all small and medium manufacturers along the corridor.
2. In pursuance to the Union Budget announcement (2018-19), it has been decided to set up two Defence Industrial Corridors in the Country, one in Uttar Pradesh and another in Tamil Nadu.
3. Subsequently, five nodes for Tamil Nadu Defence Industrial Corridor, viz. Chennai, Coimbatore, Hosur, Salem and Tiruchirapalli have been identified.
4. Setting up of Tamil Nadu Defence Industrial Corridor would catalyse indigenous production of defence and aerospace related items, thereby reducing our reliance on imports and promoting export of these items to other countries.
5. This will lead to generation of direct & indirect employment opportunities and growth of private domestic manufacturers including Micro, Small and Medium Enterprises (MSMEs) and start-ups.
6. Investments of approximately Rs. 3100 crore were announced by Ordnance Factory Board (OFB)/Defence Public Sector Undertaking (DPSUs) & Private Industries in Tamil Nadu Corridor.
Practice Question Que. Write on recently discovered K2-18b.
