Govt Sets Export Target For Defence Equipment At Rs 35k Cr

The government has set an export target of Rs 35,000 crore for defence equipment by 2025 under the Draft Defence Production Policy 2018, a minister said recently.

“The Draft Defence Production Policy 2018, under consideration now, envisions India to be one of the world’s top five defence producers by 2025 with self-reliance in 13 areas covering almost the entire range of weapons and systems. The export target has been fixed at Rs 35,000 crore ($5 billion) by 2025,” said Subhash R Bhamre, Minister of State for Defence.

Addressing The Indo French Defence and Aerospace Cooperation conference in New Delhi, he added, “The Make-in-India initiative offers a valuable opportunity for Indian and French enterprises to enter into arrangements for co-development and co-production of defence equipment in India, including through transfer of know-how and technologies to the mutual benefit of all parties.”

He expressed that the complexity of India’s security challenges makes self-reliance in defence all the more important. Read More…

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