On the defence industry emerging as the catalyst of industrial growth in the next ten years
By 2025 the share of manufacturing in India’s GDP is targeted to grow from 17 per cent to 25 per cent. To reach this target, the manufacturing sector needs to grow at a CAGR of more than 14 per cent. The defence sector can be a game changer and play a major role towards achieving this vision. I believe, with the right set of policies in place, with appropriate budgetary support, the defence industry can lead the next phase of industrial growth in India.
With the revenue growth in public sector defence enterprises stabilised at a CAGR of 8-8.5 per cent, there is plenty of room for growth of the private sector, given the policy focus towards indigenising defence. Read more