India Exporting Defence Equipment To Around 70 Nations, Aims To Achieve Rs 35,000 Crore Export Target By 2024-25: Rajnath Singh

Defence Minister Rajnath Singh on Saturday (4 December) said that the government aims to achieve the defence export target of Rs 35,000 crore by 2024-25.

While delivering the inaugural address at the MSME Conclave in New Delhi on Saturday, Singh reiterating the government’s focus on encouraging defence exports and exhuded confidence India will soon become a net exporter from a net importer in the defence sector.

The conclave was organised by the Defence Ministry's Department of Defence Production in partnership with Society of Indian Defence Manufacturers (SIDM).

“The government aims to achieve the export target of Rs 35,000 crore by 2024-25. Presently, India is exporting defence equipment to around 70 countries. According to Stockholm International Peace Research Institute 2020 report, India is in the list of top 25 countries in defence exports,” he said, according to a Defence Ministry release.

He also said that government is according top priority to self-reliance in defence, in view of the ever-changing security scenario and added that there is a need to move forward to unleash the full potential of MSMEs (Micro, Small and Medium Enterprises) in the sector.

The Defence Minister called upon MSMEs to invest more in research and development and manufacture new products and technologies and thereby contribute to the security and progress of the country.

In this era of outsourcing, huge platforms are assembled by thousands of components provided by these hidden MSMEs, he stated.

Singh added that the MSMEs are not only supporting large entities by manufacturing quality products at sub-systems and component level, but are also generating direct and indirect employment for the people.

Saying that large industries and MSMEs complement each other and together can bolster the security and economy of the country, he extended the full support of the government in achieving this objective.

He urged the MSMEs and Society of Indian Defence Manufacturers (SIDM) to create an industrial base in India, on the lines of 'Mittelstand' (Mittel-Stunt) of Germany, which has been recognised by the whole world for manufacturing metal equipment.

The minister exuded confidence that Indian manufacturers and their associated MSMEs will play a major role in catering to the defence needs of the country and also meet the global requirement.