Singh said that the government fully recognises the value of a foolproof security system and is continually trying to strengthen all aspects of national security in order to advance the nation…reports Asian Lite News
Defence Minister Rajnath Singh has set an ambitious goal for the country’s defence industry – produce Rs. 1.75 lakh crores worth of goods by the year 2025.
Speaking at the 5th Annual Session of the Society of Indian Defense Manufacturers in New Delhi on Tuesday, he said this would include exports of Rs 35,000 crore.
“Seven-eight years ago, our defence exports were not even Rs 1,000 crore. They have now crossed Rs 13,000 crore. We have set a target of Rs 1.75 lakh crore of defence production by 2025, which includes export of Rs 35,000 crore,” he pointed out in his address.
He also urged the Indian defence sector to find and produce cutting-edge, cost-effective products and technologies in order to accomplish Prime Minister Narendra Modi’s vision of a “New India” that not only satisfies domestic demands but also meets those of other countries.
Singh said that the government fully recognises the value of a foolproof security system and is continually trying to strengthen all aspects of national security in order to advance the nation.
Additionally, he outlined the actions taken to support the private sector and mentioned how the need for military equipment has increased due to countries’ increased attention to strengthening their security systems and the ever-changing nature of the global environment.
Later, he also felicitated the winners of the 2nd edition of the SIDM Champions Award.
According to the Ministry of Defense, the 5th Annual Session of SIDM was held under the theme “India@75: Shaping for India@100” with the objective of elevating India to a leading position in the global defence manufacturing market. The senior brass of the Ministry of Defence, the Indian Armed Forces, industry, and foreign defence attachés headquartered in India all participated in the event.