Target to make defence industry worth $26 billion by 2025: Rajnath Singh

Defence Minister Rajnath Singh has called for an increased and active participation of the private sector in defence manufacturing to achieve the Government’s target of making the Indian defence industry worth $26 billion by 2025. He was addressing the captains of industry at the 22nd India International Security Expo, 2019 (Defence & Homeland Security) here today. Shri Rajnath Singh reaffirmed the Government’s aim of inclusive growth and making India a $5 trillion economy by 2025, adding that the defence sector will play a pivotal role in achieving this goal. “Our aim is to make a world class domestic defence industry that is self-reliant and less dependent on imports”, he added.

Defence Minister stressed that in its present set up of ‘Minimum Government and Maximum Governance’, the Government plays the role of a facilitator and the duty of the industry is to work in tandem to realise the vision of ‘New & Strong India’. He hoped that the industry partners will come up with concrete investment and technological intervention proposals related to defence and avail the business opportunities present in the sector. He said, there is a need to make the system investor friendly and create a conducive atmosphere for the growth of defence production with an increased participation of the private sector.

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