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India Aspires To Become $10 Trillion Economy By 2030: Rajnath Singh

Defence Minister Rajnath Singh On Tuesday Said That India Aspires To Become USD 10 Trillion Economy Till 2030-32 In Which The Contribution Of The Defence Sector Will Be Crucial.

News Nation Bureau | Edited By : Mohit Pandey | Updated on: 18 Sep 2019, 08:38:00 AM
Rajnath Singh said that the performance of Indian defence industry can’t be justified. (Photo Credit: PTI)

New Delhi:

Defence Minister Rajnath Singh on Tuesday said that India aspires to become USD 10 trillion economy till 2030-32 in which the contribution of the Defence sector will be crucial. He said that the government is continuously working towards achieving a target of USD 26 billion defence industry by 2025 with the exports target being USD 5 billion. Rajnath Singh, who was addressing the second annual session of society of Indian Defence Manufactures in New Delhi, said that under the ‘Make In India’ initiative, the defence sector has emerged as one of most prominent sectors in the country.

He added that the performance of Indian defence industry can’t be justified with its potential in past and a country with size and global prominence like that of India should not just rely on imports for arms, reported News Agency ANI.

Stressing upon the need to make defence manufacturing sector self-reliant, he said that a new transfer of technology policy is under process which will pave the path of transferring the indigenously-developed technologies to the industry.

Moreover, Rajnath Singh is set to fly in indigenously-built light combat aircraft (LCA) Tejas from the HAL airport in Bengaluru on Thursday. He will be the first defence minister to fly in this aircraft. Last Friday in Goa, Tejas had successfully carried out an "arrested landing", a key performance demonstrating its ability to land on board an aircraft carrier, making it a major milestone in development of the naval variant of the fighter jet.

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First Published : 18 Sep 2019, 08:38:00 AM