Rajnath pitches for greater role of private sector in defence production
NEW DELHI, Oct 4 (PTI): Defence Minister Rajnath Singh on Friday said at least 50 per cent of the country’s total defence production should come through the participation of the private sector.
Addressing an event by the Society of Indian Defence Manufacturers (SIDM) here, he said the Russia-Ukraine war proved that the importance of a defence industrial base has “not lessened”, rather there is a need to expand it.
Singh underlined that India was an “import-dependent nation” earlier in the defence sector, but the country is taking strides towards defence exports.
He urged the stakeholders in the defence sector to keep seeing the export and import figures, and said with a target-oriented approach, the ratio between the two can be reduced.
“You know well our thinking and policy in the defence sector. Our government will not only continue those efforts but will endeavour to accelerate them as much as possible. Efforts to achieve self-reliance will be made more vocal, this is a firm conviction of our government,” Singh said.
The defence minister highlighted government initiatives like the corporatisation of the Ordnance Factory Board, the establishment of two industrial defence corridors, and the encouragement of private industry by the DAP to enhance the role of the private sector in defence manufacturing.
“We created an environment of ease of doing business in the country,” Singh said.
He also spoke of the “record growth” in the value of defence production in the country in 2023-24.
In July, Singh said, “India has registered the highest ever growth in the value of defence production in 2023-24. The value of production has reached Rs 1,26,887 crore in 2023-24 which is 16.8 per cent higher than the value of production of the previous financial year”.
