<h1>Navy Chief Highlights Semiconductor Policy as Key to Defence Self-Reliance; Calls for Private Sector Leadership</h1> India's semiconductor policy is crucial for enhancing defence manufacturing, according to the Navy chief, who urged private sector leadership to achieve self-reliance. At an event, he described the policy as 'new oil for the economy,' benefiting both civilian and defence sectors. The Ministry of Defence allocated Rs 450 crore for the Innovation for Defence Excellence (iDEX) scheme, supporting startups and SMEs. The modernization budget prioritizes the defence industry, with 25% for private enterprises. The Navy aims to collaborate with industry leaders, transitioning from customer to partner roles, and has established task forces to integrate new technologies.