Defence sector on the trail of positive approaches

The defence exports today have touched Rs 16,000 crore from a meagre Rs 1,000 crore nine-ten years ago.

Defence sector on the trail of positive approaches

The defence minister presides over the event held in New Delhi, the Defence Summit, claiming to make the nation stronger and more efficient with a rigid armed sector. The defence exports are expected to reach Rs 50,000 crore by 2029.

The Defence Minister emphasized the significance of  ‘Aatmanirbharta’ in defence manufacturing as the biggest change brought about by the Government, which is giving a new shape to India’s defence sector, including the setting up of Defence Industrial Corridors in Uttar Pradesh & Tamil Nadu; notification of positive indigenisation lists; reserving 75% of capital procurement budget for domestic industry; corporatisation of Ordnance Factory Board; and schemes/initiatives such as Innovations for Defence Excellence (iDEX), iDEX Prime, Acing Development of Innovative Technologies with iDEX (ADITI) & Technology Development Fund (TDF).

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The positive impact on the defence sector highlights measurable decisions as the annual defence production, which was around Rs 40,000 crore in 2014, has now crossed a record Rs 1.10 lakh crore. The defence exports today have touched Rs 16,000 crore from a meagre Rs 1,000 crore nine-ten years ago. The government has set a target to achieve Rs 50,000 crore of exports by 2028-29.

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Highlighting the harmony between military power and spirituality prevalent in the Indian culture, the Raksha Mantri emphasized that the Government has been consistently working for the betterment of the serving & retired personnel as well as those who made the supreme sacrifice in the service of the nation, along with their families.

The Armed Forces are being modernized with the latest state-of-the-art weapons/platforms. We established the National War Memorial in New Delhi to honor the sacrifices of the bravehearts. In addition, the government has implemented the One Rank One Pension scheme, a long-pending demand of the ex-servicemen.

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