Sharing the government’s future plans for the defence sector, he asserted that the target is to increase defence production in India from $12 billion to $22 billion by 2025

Singh said that the target is to increase defence production in India from $12 billion to $22 billion by 2025.

Defence Minister Rajnath Singh has termed the current era as the ‘Golden Era’ for the Indian defence sector. He was speaking at the Defence Expo in Gandhinagar. He also invited investors to pump money into the country’s defence production, which is growing at a fast pace.

Sharing the government’s future plans for the defence sector, he asserted that the target is to increase defence production in India from $12 billion to $22 billion by 2025. "This provides unparalleled opportunities for growth to industry in the coming years," he added.

“To increase the participation of domestic industry in the defence sector, the government has reserved 68 per cent of the defence capital acquisition for domestic procurement for the year 2022-23, which is approximately Rs. 85,000 crores and 25 per cent of this has been reserved for domestic private industry”, he said.

As per the defence ministry, the event was organised to promote investment in the defence sector in the country both by the Indian industry as well Foreign OEMs. It highlighted the requirements of the Armed Forces and policy reforms undertaken by the Government for ease of doing business in the defence sector.

Compared to the past, he mentioned that this approach has drastically changed now and these two concepts are integrated, and they strengthen each other. “Today, the nation is integrating and moving forward with these two capabilities, which complement each other, and making unparalleled improvements in both,” said Singh. He added that economic and strategic capabilities are essential for the development of science and technology, health, agriculture, trade and commerce.

The minister further emphasised on the fact that the measures have yielded results in increase in defence exports in the past few years.