In a powerful address underscoring India's economic and industrial ascent, Defence Minister Rajnath Singh declared that the nation is on a "transformative journey of structural reforms," with the manufacturing sector, particularly defence, at its core. Speaking at the India-Australia Defence Industry Business Round Table in Sydney on Wednesday, Mr. Singh positioned India as a reliable and capable ally for global defence collaboration.
Highlighting India's macroeconomic credentials, the Minister stated, "India is now the fourth-largest economy and the fastest-growing economy in the world." This growth, he implied, is not accidental but driven by a series of strategic policy shifts designed to foster a vibrant business ecosystem.
A key focus of his speech was the concerted effort to liberalise India's defence production landscape. "The defence production ecosystem is being continuously liberalised through policy interventions and simplification of compliance mechanisms," Mr. Singh said. This ongoing reform has yielded tangible results, with the country’s defence production soaring to an impressive ₹1,51,000 crore (approximately $18 billion) in the last financial year—marking a significant 18 per cent year-on-year increase.
Perhaps the most striking indicator of this transformation is the meteoric rise in defence exports. The Minister revealed that Indian defence exports have reached a record ₹23,622 crore (approximately $2.8 billion), with Indian companies now supplying high-quality defence equipment to nearly 100 countries worldwide.
"India, with its robust shipbuilding capabilities, diverse manufacturing base and a growing ecosystem of private sector innovators and start-ups, stands ready to be a trusted partner," Mr. Singh asserted, making a direct pitch to the international community.
He credited flagship government initiatives for creating this enabling environment. Programs like 'Make in India', which incentivises domestic manufacturing, Production Linked Incentive (PLI) schemes that boost output, and a nationwide push for digital transformation were highlighted as key drivers for innovation and investment.
Directing his remarks to the Australian business leaders present, the Defence Minister extended a formal invitation for deepened cooperation. He envisioned a partnership where the two nations could leverage their respective strengths for mutual benefit and global security.
"Mr Singh invited the Australian business community to invest, collaborate, and innovate with India," the address concluded, adding his conviction that "India and Australia can develop cutting-edge technologies, [and] build advanced platforms together."
The speech signals a clear and confident shift in India's global defence posture—from a significant importer to a burgeoning manufacturing hub and a reliable exporter, eager to co-create the future of defence technology with like-minded democratic partners like Australia.
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