Defence production target set at Rs 90,000 crore for 2019-2020

Defence exports have witnessed tremendous growth from Rs 1,521 crore in 2016-17 to Rs 10,745 crore in 2018-2019.

Published: 22nd August 2019 01:31 PM  |   Last Updated: 22nd August 2019 01:31 PM   |  A+A-

Surface-to-air missile defense system developed by the DRDO and produced by Bharat Dynamics Limited.

Surface-to-air missile defense system developed by the DRDO and produced by Bharat Dynamics Limited. (File Photo| PTI)

By IANS

NEW DELHI: The department of defence production has set itself a target of producing equipment worth Rs 90,000 crore in the financial year 2019-20. Exports worth Rs 15,000 crore have been envisaged from the total quantity of equipment produced.

The target set by the department for 2019-20 is nearly 12 per cent higher than the production achieved in the previous financial year. In the financial year 2018-19, the department had produced equipment worth Rs 80,502 crore.

Exports had accounted for Rs 10,745 crore worth of equipment in the financial year 2018-19.

According to the department, greater focus will be placed on modernisation and indigenisation of domestic manufacturing in order to boost production.

Speaking at a seminar on modernisation and indigenisation of the IAF in New Delhi on Tuesday, Defence Minister Rajnath Singh had stressed upon the need to reduce dependency on defence imports. He had also said that India continues to be one of the largest importers of defence equipment in the world.

"Of that which is produced within the country, there is a sizeable dependency on foreign original equipment manufacturers for sub-systems and components. We need to cut down dependency on foreign manufacturers and develop comprehensive capabilities ourselves," Singh had said.

Defence production in India has grown from Rs 74,121 crore in the year 2016-17 to Rs 80,502 crore in 2018-19. In the year 2017-18, defence production in India had touched Rs 78,817 crore.

Defence exports have witnessed tremendous growth from Rs 1,521 crore in 2016-17 to Rs 10,745 crore in 2018-19. In 2017-18, the exports figure had stood at Rs 4,682 crore.

As per ministry sources, part of this steep increase in exports is owing to government policies and initiatives.

"Boost for Indian Defence Exporters. UK appoints Mr Dominic Beales, in British High Commission Delhi as local liaison officer for support to Indian exporters in defence/aerospace," tweeted Secretary (Defence Production) Dr Ajay Kumar on Wednesday.

The department of defence production is one of the four wings functioning under the Defence Ministry and has an officer of the rank of Secretary at its helm of affairs.

The department deals with matters pertaining to defence production, indigenisation of imported stores, equipment and spares, and planning and control of departmental production units of the Ordnance Factory Board and Defence Public Sector Undertakings.

Stay up to date on all the latest Nation news with The New Indian Express App. Download now
(Get the news that matters from New Indian Express on WhatsApp. Click this link and hit 'Click to Subscribe'. Follow the instructions after that.)

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp