Defence Minister addresses at ‘India Rising Conference’
On 18 Nov, Defence Minister Rajnath Singh s peaking at ‘India Rising Conference’ said that India is committed to working toward achieving a USD 26 billion defence industry by 2025, Defence Minister Rajnath Singh. He also said that draft Defence Production Policy 2018 had set a target of USD five billion in defence exports by 2025. The Indian government has announced in the General Budget 2018-19 that it will bring out an industry-friendly Defence Production Policy 2018 to promote domestic production by the public sector, private sector and MSMEs. Defence Sector has been identified as one of the prominent sector under ‘Make-in-India’ initiative to realize USD 5 trillion economy by 2024.