Defence Minister Rajnath Singh praised private manufacturers’ increased engagement in defence production on Tuesday, calling it an indicator of the sector’s growth. He asked manufacturers to create a roadmap for the next 25 years, engage in research and development (R&D), and bring innovative products to market as they are eagerly anticipated around the world. Speaking at the annual meeting of the Society of Indian Defence Manufacturers (SIDM), Singh stated that the defence production budget has increased from roughly Rs 10,000 crore to Rs 30,000 crore in the last eight years.
The Defence Minister went on to say that by 2025, the goal should be to reach the Rs 1.75 lakh crore objective for defence equipment procurement. “The government is there to assist the industry because both must go on the journey (of defence production) together,” he said. Singh stated that private manufacturers’ engagement has been a game changer in the last 20 years, since former Prime Minister Atal Bihari Vajpayee envisioned the role of private manufacturers in the defence industrial sector.
He also stated that 68% of the defence budget has been set aside for defence production this fiscal year. The Defence Minister emphasised the importance of national security, saying that only a progressive society can protect it while also maintaining economic success. “Growth has been significant in the ever-changing defence manufacturing landscape. This demonstrates that the demand for defence equipment has increased, and that the government is capable of providing these demands “Singh stated. He praised SIDM’s contribution, saying that it has developed in the last five years with the addition of several MSMEs. This, according to Singh, was an indicative of the expansion of the defence industrial sector. The idea of Atmanirbhar Bharat has been instilled in defence production, and the armed forces have enthusiastically backed it, according to the minister.
(source : IANS)