Prime Minister Narendra Modi while speaking on the budget allocation for India’s defence sector hailed the government’s vision to make India a defence hub. He emphasised on the manufacturing of “low cost, high quality” defence equipment. He also said that with such an initiative the country will soon become one of the leading defence exporters in the world.
Modi talked on the untapped potential of India’s manufacturing for military equipment and the increased role of the private sector. He stressed on the need of self reliance. He shared his views during a webinar on the effective implementation of Union Budget 2021’s schemes in the defence sector.
“Before Independence we used to have hundreds of ordnance factories. In both the World Wars, arms were exported from India on a large scale, but after Independence due to a number of reasons, this system was not strengthened as much as it should have,” he said. Modi said that with initiatives like de-licensing, de-regulation, export promotion, foreign investment liberalisation, the government has taken several steps to boost the defence manufacturing sector.
In this year’s Budget, Modi said, “the defence’s sector’s capital outlay has been increased by 19 per cent.” He further said that it was for the first time in history, the private sector has been given so much space in the defence industry.