Centre Has Set Target Of $5 Billion Defence Exports By 2025: Rajnath Singh

Rajnath Singh highlighted the steps taken by the government to boost local defence manufacturing such as increase in procurement categories.

Terming exports as a key pillar for the long-term sustainability of the domestic defence industry, Defence Minister Rajnath Singh on Thursday said the government has set itself a target of achieving defence exports of $5 billion by 2025.

Speaking at an event at the 12th Defence Expo in Gujarat, he also said the government was eyeing overall turnover of $22 billion in defence production in the same timeframe.

"Domestic demand alone may not always provide economies of scale to make profitable investments and sustain them," Mr Singh said, speaking at a seminar jointly organised by the US-India Business Council and Society of Indian Defence Manufacturers at Mahatma Mandir.

The seminar was on the theme 'New Frontiers in US-India Defence Cooperation: Next Generation Technology, Innovation & Make in India'.