Prime Minister Narendra Modi addressed a jubilant crowd at the India Today Conclave on March 16, 2024, and declared his intent towards making India a net exporter of defence products over the next five years. On April 1, 2024, Defence Minister Rajnath Singh announced that India’s defence exports have surged to a whopping figure of Rs. 21,000 crores in the Financial Year 2023-24. For the year 2024-25, the target is Rs 1,75,000 crore worth of total annual defence production, including defence exports worth Rs 35,000 crore. While Prime Minister Narendra Modi’s strategic vision is to see India emerging as a $5 trillion economy and as a first-rung global military power during his third term, defence exports remain a work in progress.
Boosting defence exports
Earlier, India was known to be an arms importer. But today, the country has come out of our comfort zone and found a place in the list of top 25 arms exporter nations. Seven-eight years ago, defence exports did not even touch Rs 1,000 crore. Today, it has touched Rs 16,000 crore. By 2028-29, annual defence production is expected to touch Rs 300,000 crore and defence exports Rs 50,000 crore. While the government is supporting big corporations, it is also inviting young ignited minds to the defence sector through start-ups, terming it another step taken for the long term. Effective steps were taken to promote start-ups at the recent meeting of the Defence Acquisition Council, in which procurement from start-ups, payment terms, eligibility, etc. have been liberalised.
Esta historia es de la edición April 2024 de Geopolitics.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición April 2024 de Geopolitics.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
Unending War In Ukraine
Is Russia's War in Ukraine following a script or it is lost in direction? RAVI SRIVASTAVA attempts to answer
THE NARCOTICS MENACE
International Narcotics Control Board (INCB) 2023 Annual Report, prepared in accordance with the international drug control treaties, examines the global drug control situation and makes recommendations to governments and regional and international organizations. It focuses on the role of the Internet, including social media, in JALLAL TOUFIQ, President of the INCB, explores the challenges and opportunities for drug control, prevention, and treatment in the era of the Internet, with a landscape of online drug
DEALING WITH THE DRAGON
Not Containing, but Countering China, in the Indo-Pacific is now the norm of all the leading countries of the region, writes CHINTAMANI MAHAPATRA
INDIA MUST RESUME NUCLEAR TESTING
India has to conduct open ended nuclear tests to secure a modicum of data, which will be infinitely more accurate than information derived from inertial confinement fusion facility (ICF) and supercomputer simulations.
ASYMMETRIC MARITIME THREATS & CHALLENGES
VENUGOPAL MENON explains why and how it is imperative to counter asymmetric threats in the maritime domain in India's area of interest
DRDO'S MPATGM
Indian Army gets more teeth for Anti-Tank Warfare, reports GIRISH LINGANNA
SMART AND LETHAL WEAPONS: THE PATH TO 2029
India must tread the path towards development of a whole gamut of next-generation smart and lethal weapons for countering a two-front threat scenario, argues AMARTYA SINHA
ROHDE & SCHWARZ EXPANDS FOOTPRINT IN INDIA BY OPENING NEW STATE-OF-THE-ART FACILITY IN DELHI
In a strategic move to amplify its offerings and reinforce its market presence, Rohde & Schwarz India (RSINDIA), a subsidiary of the global technology group Rohde & Schwarz GmbH KG & Co, has officially inaugurated a new facility, aiming to significantly enhance its service offerings in the Indian market. The expansion heralds a pivotal moment in RSINDIA'S history, with its Managing Director, YATISH MOHAN, alongside key figures from the R&S Global Office including DR. ALEXANDER ORELLANO, Executive Vice President, and RALF WATAMANIUK, Vice President, Sales & Marketing, providing insights into the company's steady climb to prominence.
SUBMARINE-KILLER CAPABILITY: SMART MISSILE TESTED SUCCESSFULLY
The supersonic missile-assisted torpedo (SMART) system developed by the Defence Research and Development Organisation (DRDO) was successfully test-launched from Dr APJ Abdul Kalam Island in Odisha on May 1. The test confirmed velocity control, ejection, and symmetric separation.
India's space economy set to soar
India's burgeoning space economy could see a substantial increase in its global share by 2040. At present, India's space sector contributes a modest $8 billion to the overall cake. However, the government has set its sights on an ambitious target, aiming for a five-fold surge in India's share of the global space economy.
