India has exported defence equipment worth over Rs 38000 crore to friendly nations in the last seven years, defence minister Rajnath Singh said.
He lauded the private sector for playing a significant role and said that these Indian enterprises are capable of manufacturing cutting-edge hardware in a cost-effective manner.
The minister was addressing the annual conference of the Society of Indian Defence Manufacturers (SIDM). Speaking at the conference he said that internationally there is a trend of modernisation of defence equipment, given increasing security threats and border conflicts.
“India is capable of meeting these needs through a cost-effective and quality approach. By India, we mean public sector, private sector, academia, research, and development. We believe in taking them all on board,” the defence minister said.
“We have opened up opportunities to build a Mega Defence Programme, including fighter aircraft, helicopters, tanks, and submarines through a strategic partnership model that will help our private companies become global giants in the years to come,” the minister added.
