Defence production crossed Rs.1 lakh cr, Rs.16,000cr worth of products exported
India’s growing defence industry is not only catering to the domestic requirements, but also fulfilling the security needs of friendly countries, says Defence Minister Rajnath Singh.
“In the last financial year, our defence production crossed Rs.1 lakh crore and exports touched Rs.16,000 crore. This is proof that the defence sector and the nation at large are on the right path,” he said while chairing meeting of Consultative Committee for MoD on self-reliance in Bengaluru on 16 June 2023.
The Government’s decisions on developing defence industry have started to bear fruit and today the country is indigenously manufacturing submarines, fighter jets, helicopters and weapons, he said.
He highlighted the Government’s constant endeavour to enhance the security of the country and make the Armed Forces technologically advanced to deal with challenges emanating out of the ever-evolving global scenario.
Terming demand assurance as one of the most important aspects to ensure self-reliance, he stated that a number of decisions have been taken to achieve the objective.
These include constant increase in defence budget, including capital outlay; earmarking of record 75% of defence capital procurement budget for domestic industry in Financial Year 2023-24 and issuance of positive indigenisation lists.
“If we wish to make India a defence exporter instead of an importer, we must stand together in every situation with the idea of ‘Nation First’. Only then will we be able to achieve the goal of Aatmanirbhar Bharat,” he said. Fiinews.com
