Defence sector powering growth engine of Indian economy, says Rajnath Singh

New Delhi [India], February 10 (ANI): Aero India 2025, a confluence of critical & frontier technologies, will provide a platform to further strengthen relations among like-minded countries based on mutual respect, mutual interest and mutual benefit to deal with today's uncertainties, said Raksha Mantri Rajnath Singh while inaugurating the 15th edition of Aero India at the Yelahanka Air Force Station in Karnataka's Bengaluru on Monday.
According to a release from the Ministry of Defence, Rajnath Singh exuded confidence that Aero India 2025 will showcase the country's industrial capability and technological advancements to the world, while further strengthening symbiotic relations with friendly countries. Lasting peace can only be achieved if nations become stronger together and work for a Better World Order.
Singh said that the five-day event will witness the participation of Government Representatives, Industry Leaders, Air Force Officers, Scientists, Defence Sector Experts, Start-ups, Academia & other stakeholders from all across the globe, and this confluence would bring India's partners closer to the benefit of all.
Singh said, "We often interact as buyers and sellers, where our relations are at a transactional level. However, at another level, we forge our partnership beyond the buyer-seller relationship to the level of Industrial Collaboration. We have many successful examples of co-production and co-development with like-minded countries."
"For us, there is no Indian security or Indian peace in isolation. Security, stability and peace are shared constructs that transcend national borders. The presence of our foreign friends is a testimony to the fact that our partners share our vision of One earth, One family, One future," he added.
Raksha Mantri pointed out that in the present environment of global uncertainty, India is one such big country which is witnessing peace and prosperity.
"India has never attacked any country nor has it been involved in any great power rivalry. We have always been an advocate of peace and stability. It is part of our fundamental ideals," he said.
Rajnath Singh told the Defence Ministers, senior officials and representatives of foreign Original Equipment Manufacturers present on the occasion that their cooperation with India is crucial for global peace, prosperity and stability.
Rajnath Singh asserted that India is going through a transformational phase, rapidly moving from a developing to a developed nation.
He added that a vibrant and thriving defence industry ecosystem has been created in the country due to a concerted, sustained and well-thought-out roadmap by the Government under the leadership of Prime Minister Narendra Modi.
He stressed that the defence industrial sector, which was earlier not viewed as a component of the national economy, has today been fully integrated with the overall economy. The sector is now a motor, powering the growth engine of the Indian economy, he said.
Raksha Mantri stated that the record allocation of Rs 6.81 lakh crore to the Ministry of Defence in Union Budget 2025-26, including Rs 1.80 lakh crore for capital acquisition, is proof that the Government considers defence as a top-priority sector.
He added that like the previous budget, 75 per cent of the modernisation budget has been reserved for procurement through domestic sources with an aim to widen and deepen the capabilities of India's Defence Industrial Complex.
Rajnath Singh reiterated the Government's commitment towards enhancing the participation of private players in this overall growth story.
"The private sector is going to play a big role in the economic mainstreaming. Due to its drive, resilience and entrepreneurship, the sector is capable of bringing a new wave of prosperity in the country. In many advanced countries, private industry has led defence production. The time has come that, here as well, the sector becomes an equal partner in the defence industry," he said.
Raksha Mantri added that the defence manufacturers are working with a collaborative approach to strengthen the defence sector, terming the joint venture between Tata Advanced Systems Limited and Airbus for the production of C-295 transport aircraft in Gujarat as a shining example of this cooperation.
He added that today India has become a Globally Preferred Destination for Aerospace Components & Complex System Assembly and the public sector & private industries are playing an important role in this transformation.
Shedding light on the accomplishments achieved from the last Aero India, Rajnath Singh stated that a number of high-tech products such as Astra Missile, New Generation Akash Missile, Autonomous Underwater Vehicle, Unmanned Surface Vessel, Pinaka Guided Rocket are being manufactured within the country.
He voiced the Government's unwavering resolve to surpass the Rs 1.27 lakh crore defence production and Rs 21,000 crore defence exports figures in the coming times and ensure that the defence sector moves ahead at an unprecedented pace.
It may be recalled that during the curtain raiser press conference of Aero India 2025 last evening, Raksha Mantri had expressed confidence that defence production will exceed Rs 1.60 lakh crore by the end of 2025-26 and defence exports will surpass Rs 30,000 crore.
On 2025 being declared as the 'Year of Reforms' in the Ministry of Defence, Raksha Mantri termed it as not just a government slogan, but the Government's commitment towards reforms.
He said the decisions for reforms are not being taken only at the Ministry level, but Armed Forces and DPSUs are also participating in this endeavour. "To take this drive of reforms forward more rapidly, there should be participation of all stakeholders in the defence sector. Suggestions from all stakeholders associated with the Ministry are welcome," he said.
"While Maha Kumbh is the Kumbh of introspection, Aero India is the Kumbh of research. While Maha Kumbh is focusing on internal strength, Aero India will centre on external strength. While Maha Kumbh showcases the culture of India, Aero India will display the power of India," he added.
The 15th edition of Asia's biggest aerospace and defence exhibition, inaugurated by Raksha Mantri, will showcase, over the next five days, India's aerial prowess and indigenous cutting-edge innovations alongside state-of-the-art products of global aerospace companies. (ANI)