Surge in defence stocks is a reflection of the trust of big investors
The Government has set a target of Rs.1.75 lakh crore defence production including exports of Rs.35,000 crore by 2025.
“We have set a target of Rs.1.75 lakh crore of defence production by 2025, which includes export of Rs 35,000 crore,” Defence Minister Rajnath Singh said at the 5th Annual Session of Society of Indian Defence Manufacturers (SIDM) in New Delhi on 27 Sept 2022.
Currently, defence exports have crossed Rs.13,000 crore.
The Minister attributed the recent surge in defence stocks to a reflection of the trust of big investors, services and the nations in the entities which are contributing to national security.
Assuring Defence Ministry support for the industry, he called on the companies to approach SIDM for queries and grievances.
SIDM is a bridge between the government and the industry, he added.
While commending the growth of SIDM, he noted about 500 members have joined the association in just five years of its formation.
“This is an indicator of the progress of the Indian defence industry,” said the Minister. fiinews.com
