NEW DELHI: India, which remains stuck in the strategically vulnerable and embarrassing position of being the world’s largest arms importer, wants to emerge as one of the top five countries around the globe in terms of defence and aerospace industry production by 2025.
Or, so claims a draft defence production policy (DPP) made public by the defence ministry on Thursday, which has sought comments and suggestions on it by March 30. The MoD wants the fledgling domestic defence industry to be in a position to generate two to three million jobs and export $5 billion worth of arms by 2025.
Officials say the new DPP will be released later this year after brainstorming on the draft policy. The draft says MoD aims “to achieve a turnover of Rs 1.70 lakh crore in defence goods and services by 2025, involving additional investment of nearly Rs 70,000 crore creating employment for nearly 2 to 3 million people.”
The policy says a Rs 1,000-crore fund will be established for startups in areas like warships, land combat vehicles and different types of helicopters.