Defence Equipment Makers Gain Ahead Of Announcement Of Third Positive Indigenisation List

Shares of defence equipment makers such as Bharat Electronics, BEML, Bharat Dynamics, Paras Defence, Zen Technologies and Hindustan Aeronautics surged between 3-6 per cent ahead of the announcement of third positive indigenisation list of defence equipment. 

"Taking PM Narendra Modi's vision for Atmanirbhar Bharat forward, the Ministry of Defence today is coming out with the third positive indigenisation list. This third list builds on the first list of 101 items and the second list of 108 items, promulgated earlier in 2020 and 2021," the Defence Minister said in a tweet.

According to the Ministry of Defence, the third list builds on the first list of 101 items and the second list of 108 items that were promulgated on August 21, 2020, and May 31, 2021, respectively.

The Third Positive Indigenization list contains equipment such as sensors, weapons and ammunitions, rockets, naval utility helicopters, patrol vessels, anti-ship missile, anti radiation missile and other equipment which will fulfil demands of our defence forces, Defence Minister Rajnath Singh said in a tweet.

The list will be implemented between December 2022-December 2027 and the list will be of utmost importance in development of our defence industry, Defence Minister Singh added.

The third list will consist of over 100 items, including complex equipment and systems which are being developed and likely to translate into firm orders over the next five years. Orders worth more than Rs 2,10,000 crore are likely to be placed in the next five years as part of the items covered in the third list, the Defence Ministry said.

With the notification, over 300 sophisticated items will be covered, ranging from complex weapon systems to critical platforms such as Armoured vehicles, combat aircraft, submarines etc.

Since the notification of the first and second lists, contracts for 31 projects worth Rs 53,839 crore have been signed by the Armed Forces. Acceptance of Necessity (AoNs) for 83 projects worth Rs 1,77,258 crore have been accorded. In addition, cases worth Rs 2,93,741 crore will be progressed in the next five-seven years, reported news agency ANI.