New Delhi: A day after announcing a ban on the import of 101 defence items, Union Defence Minister Rajnath Singh will on Monday launch the ‘Atma Nirbhar Bharat Saptah’. The announcement, scheduled at 3:30 PM, is set to introduce “a big push” towards Prime Minister Narendra Modi’s self-reliant initiative to promote indigenously built goods and services. Also Read - Coronavirus Vaccine Drive Hallmark For Self-reliant India: BJP Leaders Hail PM Modi's Mega Rollout Plan

In a series of tweets last evening, the defence minister said that the Atma Nirbhar Bharat initiative will offer a great opportunity to the Indian Defence industry to manufacture the items in the negative list by using their own design and development capabilities, as well as by adopting technologies designed and developed by DRDO that can meet the requirements of the Armed Forces. Also Read - Tejas Mark 1A-Lethal Punch for Enemy And A Symbol of Indian Technology

“The Ministry of Defence is now ready for a big push to #AtmanirbharBharat initiative. MoD will introduce import embargo on 101 items beyond given timeline to boost indigenisation of defence production,” Singh had tweeted. Also Read - India To Buy 83 Tejas Light Combat Aircraft For Rs 48,000 Crore, Rajnath Calls It Backbone of IAF fighter Fleet

Singh said that the ministry had bifurcated the capital procurement budget for current fiscal year between domestic and foreign capital procurement routes, and a separate budget head had been created with an outlay of nearly Rs 52,000 crore for domestic capital procurement in the current financial year.

“Almost 260 schemes of such items were contracted by the Tri-Services at an approximate cost of Rs 3.5 lakh crore between April 2015 and August 2020. It is estimated that contracts worth almost Rs 4 lakh crore will be placed upon the domestic industry within the next 6 to 7 years,” he said.

“Of these, items worth almost Rs 1,30,000 crore each are anticipated for the Army and the Air Force while items worth almost Rs 1,40,000 crore are anticipated by the Navy over the same period. #AtmanirbharBharat,” the Minister tweeted.

Earlier on Sunday, Singh announced an embargo on 101 defence items to boost local weapons production in the country. The list of 101 embargoed items comprised some high technology weapon systems like artillery guns, assault rifles, corvettes, sonar systems, transport aircraft, light combat helicopters (LCHs), radars and many other items.

The Defence Minister also said that more equipment for import embargo will be identified progressively by the Department of Military Affairs (DMA) in consultation with all stakeholders.

Notably, PM Modi is expected to present a new outline for Atma Nirbhar Bharat or self-reliant India in his address to the nation from the Red Fort in Delhi on August 15.