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Updated November 18th, 2019 at 20:25 IST

Rajnath Singh assures US$ 26 bn worth Defence Industry, sets timeline

Rajnath Singh assured that the Indian government is committed to working towards the achievement of a US$ 26 billion worth Defence Industry by the year 2025

Reported by: Prachi Mankani
Rajnath Singh
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Defence Minister Rajnath Singh witnessed the Opening Ceremony of Defence & Security 2019 in Bangkok on November 18. In his address at the ‘India Rising’ Seminar at the ‘Defence & Security-2019’ Exhibition, he assured that the Indian government is committed to working towards the achievement of a US$ 26 billion worth Defence Industry by the year 2025.

 “While the target is ambitious, it’s encouraging to know that India’s defence exports grew nearly 6 times over the past two years,” said Rajnath Singh

He also apprised the business community about the initiatives and opportunities available in India for investment.

“Allocation for defence in India’s budget 2019-20 is around US$ 60 bn. Nearly 65% of parts, components, sub-systems of existing systems have been delicensed, India can now manufacture them and approximately US$ 3 billion worth of defence items are being manufactured by the domestic private sector,” added Rajnath Singh

READ | Rajnath Singh visits Bum La Pass in Arunachal Pradesh

READ | Defence Minister Rajnath Singh congratulates DRDO for successful night trial of Agni-II

The objectives of ADMM

The ASEAN Defence Ministers’ Meeting is the highest defence consultative and cooperative mechanism in ASEAN. The ADMM aims to promote mutual trust and confidence through a greater understanding of defence and security challenges as well as enhancement of transparency and openness. The objectives of the ADMM are:

-To promote regional peace and stability through dialogue and cooperation in defence and security

-To give guidance to existing senior defence and military officials dialogue and cooperation in the field of defence and security within ASEAN and between ASEAN and dialogue partners

-To promote mutual trust and confidence through a greater understanding of defence and security challenges as well as enhancement of transparency and openness

-To contribute to the establishment of an ASEAN Security Community (ASC) as stipulated in the Bali Concord II and to promote the implementation of the Vientiane Action Programme (VAP) on ASC

READ | Thailand: Rajnath Singh and US Secretary of Defence Mark Esper hold bilateral meeting

READ | Rajnath Singh speaks to pilots of crashed MiG-29K aircraft, prays for their well-being

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Published November 18th, 2019 at 14:38 IST

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