The government is eyeing a turnover of Rs 1.75 lakh crore (USD 25 billion) in defence manufacturing by 2025 as it has identified the sector as a potential driver to boost the overall economy, according to a draft of a major policy prepared by the defence ministry.
The draft Defence Production and Export Promotion Policy 2020 set an export target of Rs 35,000 crore (USD 5 billion) in aerospace and defence goods and services in the next five years, which has been estimated as part of the total projected turnover.
The policy is envisaged as overarching guiding document of the defence ministry to provide a “focused, structured and significant” thrust to production of military hardware and platforms for self-reliance and exports, officials said.Read More…
