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…