India eyes defense equipment exports worth ₹1L crore by 2035
The Chairman of the Defence Research and Development Organisation (DRDO), Samir V Kamat, has projected that India will emerge as a top exporter of defense equipment within the next decade. He revealed that India aims to achieve exports worth ₹50,000 crore by 2028 and ₹1 lakh crore by 2035. Kamat made this statement during an event at Chhatrapati Shahu College of Engineering. The occasion marked the launch of the Defence Innovation Challenge for Excellence (DICE).
DRDO chief outlines India's defense import reduction strategy
Kamat highlighted a significant shift in India's defense strategy, noting that the country has reduced its reliance on imported systems. He stated, "It is true that 10 years ago, we were leading importers of defense systems. But if we look at last year's figures, out of our capital acquisition budget, nearly 90% was used on indigenous systems." This change indicates a growing focus on domestic production and innovation in the defense sector.
Kamat emphasizes need for increased defense research funding
Kamat emphasized the need for more funding in defense-related research, stating, "The spending on defense-related research should be more." However, he acknowledged that India is still developing and has other priorities. Despite these challenges, he stressed the importance of investing more in technology to further advance India's defense capabilities and meet its ambitious export targets.
