New Delhi: India’s annual defence manufacturing is anticipated to the touch a whopping Rs 3 lakh crore and exports of navy {hardware} is poised to achieve Rs 50,000 crore, Defence Minister Rajnath Singh stated on Saturday.
In an handle at a defence conclave, Singh, delving into structural defence reforms, stated the three companies used to work in “silos” earlier however now they’re prepared with higher coordination to cope with each problem collectively.
He stated capital acquisition tasks price greater than Rs 4,35,000 crore have been given in-principle approval within the monetary 12 months 2023-24, and the federal government is aiming for manufacturing of high-end techniques like aero-engines and fuel generators in India within the subsequent 5 years.
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