The Indian defence sector is in full-throttle mode. India would be exporting defence equipment and material worth Rs 35,000 to Rs 40,000 crore by 2026, Union Defence Minister Rajnath Singh said on March 28, 2023.
The Defence Minister was delivering the Field Marshal Sam Manekshaw memorial lecture in Pune on ‘The role of youth in nation building’, organised by Symbiosis International University.
“First, there should be a sense of self-confidence that we will make India ‘atmanirbhar’ (self-reliant). In 2014, we used to do defence exports of only Rs 900 crore, but since India has adopted Indianisation (program), today we are doing defence export of Rs 15,000 crore to Rs 16,000 crore,” he said.
He was confident that by 2026, defence sector exports would rise to Rs 35,000 to Rs 40,000 crore, the Minister added.
“There is a need to create an ecosystem, and more than the ecosystem, there is a need to generate self-confidence among ourselves, as with self-confidence, anything is possible,” he added. He was proud of the defence forces, which are now meeting 80 per cent of their needs through indigenous procurement, Rajnath Singh said.
India is becoming a pivotal player in the defence domain. It is rising high successfully on the defence ladder. India is creating a robust and foundational ecosystem. The confidence shown by the Indian leadership and the figures on the ground are the evidence which displays this unwavering optimism.
The Indian defence sector is modernising itself to catch up with the world, which is making a generational change in a short span of time. Reforming its approach towards how to combat the age-old challenges posed in front. Most importantly, expanding its defence footprint globally with the intention and a torch-bearer of cooperation and collaboration.