Laying spotlights on defence plank down, Rajnath Singh assures India to achieve $26 bn Defence Industry by 2025

New Delhi, September 18:  "India will achieve 26 Billion dollars Defence Industry by 2025", affirmed Defence Minister Rajnath Singh while addressing the annual function of Society of Indian Defence Manufactures in New Delhi.

 

 

"Defence sector has been identified as one of the most prominent sectors under Make in India initiative to realize 5 Trillion dollar Economy by 2024", he said adding that performance of Indian defence industry had not been commensurate with its potential in past.

India with such size and global prominence cannot rely on imports for arms. Investment of 10 billion US dollar and creation of 2.3 million employment opportunities is envisaged. "Simplification of procedures for Defence Exports has resulted in export of 10 thousand 745 Crore rupees in 2018-19, which is nearly seven times the export achieved in 2016-17", he said further noting that a target of 5 Billion dollars for exports has been set till 2024.

 

While assuring the Defence Manufactures of all possible support from the Government, he said, "This government is open to new ideas and is committed to fully harness the energies, entrepreneurship spirit and enterprise of private sector in the defence sector".  

 

 

Referring to the strong IT industry of the country, Singh said that a road map has been prepared to promote Artificial Intelligence in national security to make India a significant power in Defence Artificial Intelligence. "It has been planned to develop 25 Defence Specific Artificial Intelligence products by 2024", he signed off.