On Thursday, Rajnath Singh said that India cannot remain dependent on arms imports forever; the government is aiming to achieve $22 billion in defence production by 2025.
He said, “Sharing the government’s future plans for the defence sector, he asserted that the target is to increase defence production in India from USD 12 billion to USD 22 billion by 2025.”
As a result, there are unprecedented opportunities for growth in the coming years for the industry. Rajnath Singh commented on the enthusiastic participation of the domestic industry and businesses in the defence sector, saying it demonstrates their faith in the sector. The Indian defence industry is experiencing a golden era in the coming years, and he expects it to be a booming sector.
As Singh pointed out, economic development and security are complementary, not antagonistic. During the past few years, this approach has changed, and now these two concepts are integrated and strengthen each other. The development of science and technology, health, agriculture, and trade and commerce is dependent on economic and strategic capabilities.
Furthermore, as part of the government’s efforts to encourage private players in the defence industry, Rajnath Singh said one-fourth of the defence R & D budget has been dedicated to the industry.