Union Minister Rajnath Singh said on Tuesday that India would export defence equipment and materials worth Rs 35,000 to Rs 40,000 crore by 2026. The defence minister was speaking at the Field Marshal Sam Manekshaw memorial lecture on ‘The Role of Youth in Nation Building,’ which was hosted by Symbiosis International University.
DM on Defence Exports
“First, there should be self-assurance that we will make India ‘atmanirbhar’ (self-reliant). We used to do defence exports of only Rs 900 crore in 2014, but since India adopted the Indianization (program), we are now doing defence exports of Rs 15,000 crore to Rs 16,000 crore “He stated.
He was confident that by 2026, defence sector exports would reach Rs 35,000 to Rs 40,000 crore. “There is a need to create an eco-system, and more than that, there is a need to generate self-confidence among ourselves, because anything is possible with self-confidence,” he added. Singh was proud of the defence forces, which are now meeting 80% of their needs through indigenous procurement.
He stated that large-scale reforms have been implemented in R&D organizations such as the Defence Research and Development Organization (DRDO) and the Council of Scientific and Industrial Research (CSIR). According to Singh, the government has established a link between academia and industry so that research generated by universities can reach the industry for the development of cutting-edge technologies and products.
He spoke to the management students in the audience about the government’s steps for retail investors. “We reduced insider trading, promoted technology and digital architecture in the trading process, and increased transparency.” Even people living in villages and remote areas who have a mobile phone and understand the risks are willing to invest in the market. As a result of a large number of retail investors entering the market, the market’s depth and resilience have increased,” he said.
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