‘Set target of $26 bn defence production turnover by 2025’
SURAT: Defence Minister Rajnath Singh on Thursday said the government has set a target of achieving a turnover of US$26 billionby 2025 in defence production as India cannot remain dependent on arms import forever.
The government has taken several steps to support the private sector to boost indigenous defence manufacturing, Singh said after flagging off the 51st K-9 Vajra-t gun at the Larsen and Toubro’s (L&T) Armoured Systems Complex at Hazira here in Gujarat.
“India cannot remain dependent on arms import. We have set a target of achieving a turnover of US$26 billion by 2025 in defence production. This involves an investment of US$10 billion in this sector and generation of twothree million employment opportunities,” he said.
Singh noted that participation of private sector in defence manufacturing was negligible so far.
“The private sector could not perform because of lack of support. This scenario increased our dependence on imports,” he said.
“Our government has taken many steps to change this scenario so that India becomes not only self-reliant, but also a net exporter in this sector,” he said.
He listed various steps taken by the Modi government to boost indigenous defence manufacturing. “We have streamlined the defence offset policy and we will make more improvements in it. We have created a defence investment cell in the Defence Ministry to address bottlenecks related to investment in this sector,” he said.
Referring to the Howitzer gun being manufactured by L&T at Hazira, Singh said, “A new dimension in the area of defence manufacturing, involving private sector, has been added today.” He, however, said there is a lot to be done to make India a defence manufacturing hub.
“Our government is committed to channelise the entrepreneurship spirit. We will try to remove roadblocks,” the minister assured.
Singh earlier performed puja of the gun, drew ‘swastika’ on it and showed a green flag to the 51st gun. Before the launch ceremony, Singh sat in the vehicle on which the gun was mounted and was driven around the Hazira complex. He witnessed a demonstration of the weapon in the testing area.