Defence Production Target Nearly 12 % Higher Than It’s Achieved In Previous Financial Year
Mumbai: In the financial year 2019-20, the department of defense production has set itself a target of producing equipment worth Rs 90,000 crore. From the total quantity of equipment produced, Exports worth Rs 15,000 crore are expected to be done. In the financial year 2018-19, Exports had accounted for Rs 10,745 crore worth of equipment.
In the financial year 2018-19, the department had produced equipment worth Rs 80,502 crore. This year, The target set by the department for 2019-20 is nearly 12 percent higher than the production achieved in the previous financial year.
At a seminar on modernization and indigenization of the IAF in New Delhi on Tuesday, Defence Minister Rajnath Singh said there is a need to reduce dependency on defence imports. He had also said that India continues to be one of the largest importers of defense equipment in the world.
“Of that which is produced within the country, there is a sizeable dependency on foreign original equipment manufacturers for sub-systems and components. We need to cut down dependence on foreign manufacturers and develop comprehensive capabilities ourselves,” Singh had said.
In order to boost production, Modernisation and indigenization of domestic manufacturing will be given greater importance.
“Boost for Indian Defence Exporters. The UK appoints Mr. Dominic Beales, in British High Commission Delhi as local liaison officer for support to Indian exporters in defence/aerospace,” tweeted Secretary (Defence Production) Dr. Ajay Kumar on Wednesday.
Defence production in India has grown from Rs 74,121 crore in the year 2016-17 to Rs 80,502 crore in 2018-19. In the year 2017-18, defence production in India had touched Rs 78,817 crore.
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