India's Defence Industry Set For Robust Growth, Exports Expected To Reach Rs 40,000 Crore by 2026, Says Rajnath Singh

India's Defence Industry Set For Robust Growth, Exports Expected To Reach Rs 40,000 Crore By 2026, Says Rajnath Singh

by Swarajya Staff - Wednesday, March 29, 2023 05:30 PM IST
India's Defence Industry Set For Robust Growth, Exports Expected To Reach Rs 40,000 Crore By 2026, Says Rajnath SinghDefence Minister Rajnath Singh (Pic Via Twitter)

Indian defence exports are predicted to touch Rs 35,000-40,000 crore by 2026, announced Defence Minister Rajnath Singh at a recent lecture held in Pune.

Singh also revealed that 80 per cent of products obtained by the defence sector are indigenised, marking that it's for the first time this has been achieved.

The Minister responded to a student's inquiry and disclosed that exports had increased from Rs 900 crore in 2014 to Rs 15,000-16,000 crore presently. He further projected that exports would be worth Rs 35,000-40,000 crores by 2026.

The Defence Minister was delivering the Field Marshal SHFJ Manekshaw Memorial Lecture organised by Symbiosis International University in Pune.

As management professionals, Singh urged students to make decisions while maintaining their conscience. With the central government’s support in creating policies for start-ups, India has seen a rise in the number of start-ups, with 100 unicorns out of over 90,000 start-ups in the country, he said.

The ease of doing business has significantly improved due to the reforms made in laws and research and development. Singh also mentioned that the reduction of red tape has made it convenient for young entrepreneurs to launch their businesses smoothly.

Get Swarajya in your inbox everyday. Subscribe here.

An Appeal...

Dear Reader,

As you are no doubt aware, Swarajya is a media product that is directly dependent on support from its readers in the form of subscriptions. We do not have the muscle and backing of a large media conglomerate nor are we playing for the large advertisement sweep-stake.

Our business model is you and your subscription. And in challenging times like these, we need your support now more than ever.

We deliver over 10 - 15 high quality articles with expert insights and views. From 7AM in the morning to 10PM late night we operate to ensure you, the reader, get to see what is just right.

Becoming a Patron or a subscriber for as little as Rs 1200/year is the best way you can support our efforts.

Become A Patron
Become A Subscriber
Comments ↓
Get Swarajya in your inbox everyday. Subscribe here.
Advertisement

Latest Articles

    Artboard 4Created with Sketch.