A study reveals how India can achieve $5 billion defence export goal
foreign direct investment (FDI), enhancing Research & Development (R&D), and boosting manufacturing capabilities could help India reach its USD 5 billion defence export goal by 2024-25. As reported by PTI, the study, conducted by Nexgen Exhibitions, organizers of the International Police Expo, highlights the importance of these factors in propelling India towards its ambitious target.
«Increase in procurement categories and emphasis on quality and innovation have positioned India as a reliable defence equipment supplier on the global stage. The government's supportive policies, coupled with strategic partnerships and collaborations, are driving the growth of India's defence exports, bringing the country closer to its USD 5 billion target by 2024-25,» said Aadhar Bansal, Director, Nexgen Exhibitions, as reported by PTI.
Streamlining FDI and Enhancing R&D and Manufacturing
The study, conducted across 15 cities in India, involved over 130 national and international arms, ammunition, and security equipment manufacturers, exporters, and startups. It emphasizes the need for streamlined FDI inflows, elevated technology integration with AI and other futuristic technologies, and a robust skill development ecosystem to create a large pool of industry-ready professionals.
India's Emergence as a Global Manufacturing Hub
By enhancing R&D and manufacturing capabilities, India's homeland security and defence sector are poised to emerge as a global manufacturing hub. The study also highlights the significance of increasing
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