Defense Minister Rajnath Singh on Tuesday said that India will export defense equipment and material worth Rs 35,000 to 40,000 crore by 2026. The Defense Minister was delivering the Field Marshal Sam Manekshaw Memorial Lecture on ‘Role of Youth in Nation Building’ organized by Symbiosis International University here.
He said, “First there should be a sense of confidence that we will make India ‘self-reliant’. In the year 2014, our defense exports were only Rs 900 crores, but ever since we adopted Indianisation (programme), today our defense exports have increased to Rs 15,000 crores.
He expressed confidence that by 2026, India’s export of defense products would increase from Rs 35,000 to Rs 40,000 crore. Singh said he is proud of the country’s defense forces, which are now meeting 80 per cent of their requirements through indigenous procurement.
The Union Minister also called upon the youth to brainstorm and set up new companies and R&D establishments to help realize the government’s vision of transforming India into one of the most powerful nations in times to come. Did.
Stating that the country is now the fifth largest economy, he cited a report by Morgan Stanley which said that India could be among the top three economies of the world by 2027.
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