Today, Union Defence Minister Rajnath Singh attended the annual general meeting of the Society of Indian Defence Manufacturers. He appreciated SIDM for manufacturing equipment at a low cost with high quality. Raksha Mantri also mentioned the first state office of the SIDM in Lucknow, and also the signing of an agreement with Uttar Pradesh Expressway Industrial Development Authority to encourage investment in the UP defense corridor.
Keeping in mind the vision of Prime Minister Narendra Modi of a ‘self-reliance’ India, he said that India has been advanced in it. Noting the global situation which is changing rapidly, he mentioned that all the sectors including trade have been affected. Despite the difficulties, India has been successful in providing equipment that is both economical and of good quality. “This will not only be beneficial for India’s own security but will also take us forward in the direction of exporting security equipment to the world,” he added.
Addressing the event, he mentioned that the government has increased FD in the defense sector to 74 percent through automatic route up to 100 percent by government route for companies seeking new defense industrial license. The fruitful results of the decision taken by the government are in front of us, he added. Reportedly, in the last 7 years, India’s defense exports have crossed the mark of Rs. 38 thousand crores.
Even the research, start-up, innovation, and the rate of employment in the defense sector have risen. He expressed his confidence that in the upcoming year when the defense production revolution will be mentioned, the name of SIDM will always be remembered.
Going back to history, he recalled the ‘Indian Industrial Commission’ constituted by the British in 1916. In response to the report, Pandit Madan Mohan Malviya drafted an independent note of 50 pages. In it, he claimed that India had been one of the world’s leading countries in the field of trade and defense from the beginning.
He also highlighted the names of three industries for which India was well known. The three industries were textile, shipbuilding, and iron industry. “Our shipbuilding was the mainstay of not only local needs but also our security and business,” he added. He cited that when he sees shipbuilding entities receiving awards in various categories such as export and technology, he feels extremely proud of our country.
Furthermore, he also mentioned the valuable suggestions that have been received and drafted in reforms such as DAP-2020, Draft DPM 2021, and draft DPEPP 2020. He also mentioned that along with fulfilling the demands of the private sector, the government has also fulfilled the global demands. Singh also mentioned the Mega Defense Program which includes the building of fighter aircraft, helicopters, tanks, and submarines through a strategic partnership model.