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India’s defense exports cross Rs 38,000 crore in last seven years, country expected to become net exporter soon: Rajnath Singh

Defense Minister Rajnath Singh said on Saturday that India has exported defense products worth more than Rs 38,000 crore in the last seven years. He said that the country is hoping to become a net exporter soon.

Defense Minister Rajnath Singh said on Saturday that India has exported defense products worth more than Rs 38,000 crore in the last seven years. (File Pic)

Defense Minister Rajnath Singh said on Saturday that India has exported defense products worth more than Rs 38,000 crore in the last seven years. He said that the country is hoping to become a net exporter soon. He said that we have an estimated aerospace and defense industry of Rs 85,000 crore.

The Defense Minister said that the contribution of the private sector has increased to Rs 18,000 crore. He made this statement during his speech at the MSME Conclave of the Society of Indian Defense Manufacturers (SIDM). Singh has appealed to MSMEs to invest more in research and development, which will help in strengthening the national security of the country. He further said that he should bring new technology, products. They should not just think that if they are small, they cannot do big innovation.

12,000 MSMEs linked to defense industry: Rajnath

The Defense Minister said in his speech that due to the initiatives of the government, about 12,000 MSMEs have joined the defense industry. He said that due to the efforts of the government, defense exports from India during the last seven years have been more than Rs 38,000 crore. Singh said that due to these efforts, the number of startups with innovation, research and development in the defense industry has increased.

Emphasizing that the government’s focus is on promoting exports, the Minister expressed hope that India will soon become a net exporter from a net importer. He said that the government aims to achieve the export target of Rs 35,000 crore by 2024-25. At present, India is exporting defense equipment to about 70 countries. He told that according to the report of Stockholm International Peace Research Institute 2020, India is included in the list of top 25 countries in defense exports.

Army supported self-reliant campaign: Rajnath

Rajnath Singh said that the Indian Armed Forces have fully supported the government’s self-reliant campaign. He said that the number of contracts awarded to the indigenous defense industry has increased. Singh acknowledged that big companies play a big role in defense manufacturing. But the truth is that the work of many small companies is hidden behind the big companies. He mentioned that large defense platforms are assembled from many smaller parts and most of them are provided by MSMEs.

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Shehnaz Ali
Shehnaz is a Corporate Communications Expert by profession and writer by Passion. She has experience of many years in the same. Her educational background in Mass communication has given her a broad base from which to approach many topics. She enjoys writing about Public relations, Corporate communications, travel, entrepreneurship, insurance, and finance among others.
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