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‘We have set a target of defence exports worth Rs 50,000 crore by 2028-29’

The country has set a target of defence exports worth Rs 50,000 crore by 2028-29, he added.

‘We have set a target of defence exports worth Rs 50,000 crore by 2028-29’

Rajnath Singh (Photo:ANI)

“India’s defence apparatus is today stronger than ever as the government is focusing on bolstering it with the sentiment of Indianness,” Defence Minister Rajnath Singh said on Thursday.

The country has set a target of defence exports worth Rs 50,000 crore by 2028-29, he added.

At a Defence Summit organised by a private media organisation in New Delhi, the defence ministered termed ‘perspective’ as the major difference between the current and the previous dispensations, stating that the present government ardently believes in the capabilities of the people of India, while those in power earlier were somewhat skeptical about their potential.

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Mr Singh described promoting ‘Aatmanirbharta’ in defence manufacturing as the biggest change brought about by the government, which is giving a new shape to the defence sector. He enumerated the reformative steps taken by the Ministry of Defence to achieve self-reliance, including the setting up of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu; notification of positive indigenisation lists; reserving 75% of capital procurement budget for domestic industry; corporatisation of Ordnance Factory Board; and schemes/initiatives such as Innovations for Defence Excellence (iDEX), iDEX Prime, Acing Development of Innovative Technologies with iDEX (ADITI) & Technology Development Fund (TDF).

Highlighting the positive impact on the defence sector due to these decisions, the minister said, “The annual defence production, which was around Rs 40,000 crore in 2014, has now crossed a record Rs 1.10 lakh crore. The defence exports today have touched Rs 16,000 crore from a meagre Rs 1,000 crore nine-ten years ago. We have set a target to achieve Rs 50,000 crore of exports by 2028-29.”

Mr Singh emphasised that the country’s defence system has been induced with new energy by the government, as per the vision of the people of the country. This, he said, has resulted in India emerging as a powerful nation on the global stage with a strong and self-reliant military. “Today, our forces possess a strong willpower due to a powerful leadership at the centre. We are working continuously towards keeping the morale of the soldiers high. They are equipped, capable and ready to give a befitting reply to anyone who casts an evil eye on India,” he added.

He further said that the government has provided an ideal environment to the private sector while trusting the youth and promoting their innovation. “If our young ignited minds take one step forward, we will help them by taking 100 steps. If they take 100 steps, we will take 1,000 steps forward,” he said.

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