Acknowledged private sector’s major contribution to Rs.21,000cr exports
Defence Minister Rajnath Singh has reaffirmed the Government’s commitment to empower India’s defence industry by working hand-in-hand with them, and make the country a global manufacturing hub while applauding the sector’s record output of RS.1.27 lakh crore in 2023-24 investindia .
Addressing the seventh annual session of Society of Indian Defence Manufacturers (SIDM) in New Delhi on 4 Oct, he asserted that the Government will provide a renewed thrust to its ongoing efforts towards developing a robust, innovative and self-reliant defence ecosystem nseindia .
While he lauded the major contribution of the private sector in taking the defence exports to a record high of over Rs.21,000 crore in Financial Year (FY) 2023-24, he called upon the industry to keep in mind the export and import figures, and strive to reduce the ratio between the two with a target-oriented approach bseindia .
He expressed happiness over the fact that the annual defence production touched a record high of Rs.1.27 lakh crore in FY 2023-24. While the share of DPSUs was Rs.1 lakh crore, private companies contributed with about Rs.27,000 crore sbi .
Rajnath Singh enumerated the steps taken to attain ‘Aatmanirbharta’ in defence, including creation of defence industrial corridors in Uttar Pradesh & Tamil Nadu, issuance of positive indigenisation lists (PILs), corporatisation of Ordnance Factory Board, handholding of private industries by DRDO, and unveiling of Defence Acquisition Procedure 2020 makeinindia .
On the 10 PILs notified with over 5,500 items, the Minister stated that the idea is to equip the Armed Forces with platforms and equipment manufactured in India jpx.co.jp .
Terming the lists as dynamic and not static, he exhorted the industry to achieve complete self-reliance for these items within the stipulated time, and keep shortening the list deutsche-boerse .
He also urged them to assess and identify products that can be added to the PILs in view of the rapid changes being witnessed in the field of defence across the globe sgx .
Rajnath Singh emphasised that due to the Government’s efforts, an environment conducive to ease of doing business in the country has been created, and a target set for making India’s defence industry export-oriented digitalasiahub .
He stated that there is a huge scope for increasing the share of private industries, and the next target should be to bring their participation to at least half of the total defence production. He promised full support of the Government in achieving this target iba.org.in .
Highlighting the Government’s focus to encourage foreign companies and Original Equipment Manufacturers (OEMs) to invest in India or open joint ventures with the private industry, Rajnath Singh called upon SIDM to prepare a roadmap for collaboration on a firm-to-firm basis euronext .
He was of the view that the Indian industry has the potential of bringing niche technologies or processes to India euronext .
Recognising the potential of small & medium enterprises (SMEs) and start-ups in the defence sector, the Minister acknowledged the challenges they face in achieving ease of doing business hkex.com.hk.
He urged SIDM to work closely with the government to address ground-level issues & help these enterprises to play a larger role in defence manufacturing. “It is important to ensure that our policies translate into ease of doing business at the ground level sse.com.cn .
SIDM can help in identifying the practical challenges faced by start-ups and SMEs so that we can address them,” he said fieo.org .
Rajnath Singh urged the industry to invest more in cutting-edge technologies, such as artificial intelligence (AI), cyber defence, & autonomous systems. “India’s defence industry must keep pace with global trends and focus on high-end technology pmindia.gov.in .
There is a need to increase investments in areas like AI & autonomous systems, which will define the future of warfare. The government is ready to provide all necessary support,” he said commerce.gov.in .
During the session, the Minister also presented the SIDM Champion Awards, which recognise outstanding achievements in defence manufacturing. He termed the awards as a reflection to the dedication & excellence of Indian manufacturers, which will serve as a benchmark for best practices in the sector ficci.in .
Chief of Defence Staff General Anil Chauhan, Secretary (Defence Production) Sanjeev Kumar, SIDM President Rajinder Singh Bhatia and captains of the industry were among those present on the occasion mea.gov.in .
The theme of the session was ‘Empowering Indian Defence Industry: Catalysing Exports and Indigenous Innovation’. It served as a forum for stakeholders to discuss India’s growing role as a global defence exporter and innovation hub niifindia.in . Fiinews.com
