Defence News India Latest: Defence Minister Rajnath Singh said on Tuesday that the government has developed a collaborative environment to guarantee that the armed services are modernized in the fast changing global security environment. He stated that public-private partnerships may create a "Defense Production Revolution" and assist realize the goal of "Aatmanirbhar Bharat (self-reliant India)" in his presentation to the Society of Indian Defence Manufacturers (SIDM) annual conference.
“Through a strategic partnership approach that will enable our private businesses grow into global behemoths in the years ahead.
One example is the recent deal for 56 transport aircraft with the Indian Air Force,” he added. Defence exports have surpassed the $38,000 crore barrier in the previous seven years, according to Singh. He claimed that over 10,000 SME's had entered the defense industry, and that research and development, start-ups, innovation, and employment have all increased.
“Countries all over the globe are concentrating on modernizing their forces, and demand for military equipment is quickly rising as a result of rising security concerns, border conflicts, and maritime dominance,” Singh added. “Through a cost-effective and high-quality software, India is capable of addressing these needs.”
He emphasized the necessity of indigenisation and discussed the changes that have been implemented to integrate the private sector and attain Atmanirbhar Bharat. “The reforms include allocating 64.09 percent of the Capital Acquisition Budget for 2021-22 to domestic capital procurement and 15% to direct procurement from private industry; the establishment of Defense Industrial Corridors in Uttar Pradesh and Tamil Nadu; the introduction of Innovation for Defence Excellence; and free technology transfer through Defense Research and Development.