MoD shipyards have Rs 81K crore orders: Govt

New Delhi, December 2

Shipyards owned by the Ministry of Defence (MoD) currently had an ‘order book’ of Rs 81,777 crore, Defence Minister Rajnath Singh informed the Parliamentary Consultative Committee that met in Mumbai today.

Rajnath said during the last financial year ending March 31, 2022, the value of production of the defence shipyards was Rs 8,925 crore while the profit after tax deduction stood at Rs 928 crore. The minister exuded confidence that the shipyards would soon not only meet the domestic requirements, but also earn export orders on a competitive basis. “Friendly countries have appreciated the quality of the products manufactured by these shipyards,” said MoD statement quoting Rajnath. The shipyards have been asked to increase procurement from the MSMEs to 25 per cent’

Indigenisation key

The government is encouraging indigenous manufacturing of weapons and products to minimise imports by defence PSUs