Defence Minister Rajnath Singh and his officials, addressing a defence industry gathering in New Delhi on Tuesday, spelt out a five-point plan for raising India’s annual defence production from Rs 80,000 crore currently to Rs 1.82 trillion ($26 billion) by 2025. “For this, the Indian defence industry needs to grow at the rate of 15 per cent per annum,” said Singh.
With growth likely to come mainly from the private sector, Singh revealed that of the current annual arms production of Rs 80,000 crore, the private industry currently accounts for Rs 16,000 crore. Besides, …Read More…
