'India has potential of defence exports worth $1 billion'
India has the potential to increase its defence exports by 10 times in the next two-three years, according to Defence Minister Manohar Parrikar. “There is a potential of $1 billion worth of exports of technology products developed by DRDO (Defence Research and Development Organisation) in two-three years,” Parrikar said at a function in New Delhi on Wednesday. At present, the country’s annual defence export is estimated to be at the level of $100 million. According to the annual report of the Ministry of Defence, the country’s defence export was worth Rs.686 crore ($103.78 million) in 2013-14, which was up from Rs.460.97 crore in 2012-13. To increase domestic production and reduce dependence on imports, the defence minister said the DRDO should involve the industry in producing equipment based on technologies developed indigenously. “Hand- hold the industry to make some products which you (DRDO) may have developed,” he said. Till December last year, the Department of Industrial Policy and Promotion (DIPP) has issued 240 industrial licenses covering 144 companies for manufacturing of defence items. To encourage in-house production, the government has also increased the cap of Foreign Direct Investment (FDI) up to 49% in the defence sector. Parrikar said the DRDO scientists to focus on core activities factoring the defence technology requirements of the armed forces. To ensure greater economic efficiency of research, he directed the top brass of the DRDO to avoid duplication or overlapping of activities by laboratories. He also said the DRDO can play an inspirational role in skill-development in the country across several fields, leading to job creation for the youth. Air Chief Marshal Arup Raha who was also present at the function said the DRDO has a great role to play in transformation process of the armed forces and said that key issues should be jointly addressed by all the stakeholders. There should be a greater involvement of the three services and production agencies and a joint development road map, he said.
September 24, 2015 | 3:52pm IST.
to success.