By 2047, a significant group of top bureaucrats has recommended that India should increase its defence production to $150 billion and bring in $30 billion in exports, even as the Ukraine crisis has sparked a debate about India’s reliance on Russia.
Defense manufacturing was identified by a sectoral group of secretaries (SGOS) in a presentation to the Cabinet Secretary in February as a key area to capitalise on India’s potential and make it a manufacturing hub with a 25% share of GDP by 2047.
The SGOS has identified defense manufacturing, pharmaceuticals and biotechnology, semiconductors, capital goods, and machine tools as top categories for significant growth over the next 25 years.
By 2047, SGOS wants defence manufacturing to reach $150 billion, but the group also wants pharma and biotech to reach $500 billion. Indian manufacturing sector’s share in GDP is estimated at 13% against a global average of 16% and China’s 26%.