Uttar Pradesh is mulling over a new defence manufacturing policy to brighten the prospects of its ambitious UP Defence Industrial Corridor (UPDIC).
Under the UP Defence & Aerospace (Amendment) Policy 2018, the Yogi Adityanath government had set the target of attracting Rs 50,000 worth of investment.
Now, nodal agency UP Expressways Industrial Development Authority (UPEIDA) has prepared a fresh draft policy, which would soon be tabled in the state cabinet meeting for approval.
The proposed policy will embed the changing dynamics of the global defence and aerospace domains to catalyse defence manufacturing, research and allied activities.
The new policy will offer incentives pertaining to capital, transport, patent and trademark fee etc, to private investors.
Meanwhile, nearly 5,000 hectares of land has already been earmarked across six nodes of the UPDIC viz. Aligarh, Agra, Kanpur, Lucknow, Chitrakoot and Jhansi districts.
To propel defence production, UP is leveraging its vast arms manufacturing base including 7 Ordnance factories, 4 HAL units and 2 small arms/field gun factories in the state.
Although India is among the largest defence and military-ware importers in the world, the domestic defence production topped Rs 1.26 trillion in the last financial year 2023-24.
Now, India targetting defence exports of Rs 50,000 crore by 2029, and eventually become a net defence exporting nation.