: Defence Minister expects 100% increase in defence production and exports by 2025 #FinanceIndia #StockMarketNEWS Defence Minister expects 100% increase in defence production and exports by 2025 New

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Defence Minister expects 100% increase in defence production and exports by 2025 #FinanceIndia #StockMarketNEWS
Defence Minister expects 100% increase in defence production and exports by 2025 New Delhi, Sept 16 (KNN) Defence Minister Rajnath Singh has exuded confidence of achieving the target of Rs 35,000 crore defence export by 2025 from Rs 13,000 crore in 2022.

Overall it has aimed to reach defence production of Rs 1.75 lakh crore in next three years.

He said that the domestic industry has the capacity and capability to manufacture the latest defence platforms in water, land, sky & space in the next few years.

Addressing an event in the national capital on Friday he said, "Prime Minister Narendra Modis vision of Aatmanirbhar Bharat is making India one of the strongest and most respected countries in the world.”

He asserted that the Government is leaving no stone unturned to realise the dream of a New India which is not dependent on any country to fulfill its needs, especially those related to security.

Elaborating on a number of steps taken by Ministry of Defence to achieve ‘Aatmanirbharta in defence, he said, the issuance of three positive indigenisation lists of 310 items as well as encouraging the private sector to become a part of the nations growth story is testament to the Governments unwavering commitment to provide the Armed Forces with indigenously developed state-of-the-art weapons/platforms and equip them to deal with all future challenges.

Throwing light on the progress achieved due to the Governments efforts, he said, defence exports, which were once Rs 1,900 crore, have now crossed Rs 13,000 crore.

He made special mention of the countrys first indigenous aircraft carrier INS Vikrant, with 76 per cent indigenous content, which was commissioned by the PM on September 2, 2022 in Kochi.

He termed it as an important milestone in Indias path to achieve self-reliance. (KNN Bureau)