India's Growth in Defence export
- India became the world’s largest arms importer as it did not utilize its capacities to full potential after Independence, Prime Minister Narendra Modi stated and asserted that India was looking to achieve defense exports worth ₹35,000 crores in the next five years.
- India's policies and strategies remained focused on import. India thus became the largest arms importer in the world. After 2014, the government had undertaken several policy reforms, he pointed out.
- India turning into a manufacturing hub for military platforms and noted that defense manufacturing had found new energy. “In the last two years, defense exports worth ₹17,000 crores has been achieved; it is up from ₹2,000 crores in 2014
- A longterm integrated defense plan was being conceptualized with emphasis on startups and Micro, Medium and Small Enterprises (MSMEs). Two hundred defense startups were likely to come up to give a push to indigenization. “Defence manufacturing will not only make us selfreliant but also ensure we are prepared to help friendly countries in the region if required
Source: The Hindu
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