India expects military-industrial complex production to triple

WORLD  25 February 2024 - 12:31

Indian Defence Minister Rajnath Singh expects the total production of the military-industrial complex and export of defence products to triple over the next five years.

In an address at a defence conclave, Singh, delving into structural defence reforms, said the three services used to work in "silos" earlier but now they are ready with better coordination to deal with any challenge jointly, according to Money Control.

"Earlier, the three services used to work in silos. We focused on their integration which was an out-of-the-box step and the need of the hour. It was a little difficult in the beginning; but today our military is ready with better coordination to deal with every challenge together," he said at the Firstpost Defence Summit.

Previously, India was known to be an arms importer. But today, under the leadership of the prime minister, we have come out of our comfort zone and found a place in the list of top-25 arms exporter nations," Singh said.

"Seven-eight years ago, defence exports did not even touch Rs 1,000 crore [$120 million]. Today, it has touched Rs 16,000 crore [$2 billion]. By 2028-29, annual defence production is expected to touch Rs 3 lakh crore [$36 billion] and defence exports Rs 50,000 crore [$6 billion]," he added.

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