India's defence industry production was worth Rs 80,000 cr last year: Rajnath Singh
Singh says defence companies have huge opportunities in contributing to the domestic market
Defence Minister Rajnath Singh has voiced the government's desire to encourage private industry investment in defence sector while also strengthening defence public sector undertakings and Ordnance Factory Board (OFB).
Singh said the Indian defence industry's production was Rs 80,000 crore in 2018-19 of which Rs 16,000 crore was the contribution from the private sector. "Our nation is confidently scaling new heights based on strong political leadership strengthened by the strategic economy," said the minister calling for a multi-pronged approach to achieve the aim of 'Make in India'.
Addressing CEOs of top Defence and Aerospace companies at a roundtable with the theme 'Make in India in Defence Industry', Singh said defence companies have huge opportunities in contributing to the domestic market.