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TMI BlogDefence industry in India at cusp of massive expansion: Defence secyX X X X Extracts X X X X X X X X Extracts X X X X ..... Defence industry in India at cusp of massive expansion: Defence secy X X X X Extracts X X X X X X X X Extracts X X X X ..... . In his address at a defence conclave here late evening, he also said the intention of the government is to build a "technologically advanced" and "combat-ready force" that can effectively address the "complexities of modern warfare". The event was hosted by Axis Bank to bring together different stakeholders, including government officials, industry members, financial institutions, among othe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs under one roof. Singh said the conclave fosters collaboration among different stakeholders from the defence industry ecosystem, including those who would finance them. Creating a unified platform for discussions on 'Atmanirbhar Bharat', empowering the defence ecosystem is a "critical issue" right now, he added. "It is an ongoing effort which we sort of need to continue to focus on. It is al ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... so in line with our priorities of modernising and reforming the defence ecosystem in our quest for 'Atmanirbharta' or strategic self-reliance," the defence secretary said. He recalled that the Ministry of Defence recently declared 2025 as the "year of reforms", saying the objective is to make systems and procedures more efficient, streamlined in order to deliver timely outcomes. "The intention ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is to build a technologically advanced and combat-ready force that can effectively address the complexities of modern warfare," he said. In his address, Singh emphasised about working together with different stakeholders to create a robust defence ecosystem. Relaxation in the FDI policies and industrial licensing procedures are other elements that will propel the growth in the Indian domestic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... defence industry, he said. "Our exports have increased to Rs 21,000 crore, almost a 30 times jump in the last ten years. It is very obvious that the defence industry in India is at the cusp of a massive expansion," the defence secretary said. The current industrial ecosystem of India, which comprises various defence PSUs, licensed companies and MSMEs are the "pillars of this expanding industri ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... al base", he added. "Our focus has to be on reducing industry barriers for new players and new technologies. So that our defence industrial ecosystem becomes adaptive, agile, and capable of responding quickly to the changing nature of warfare, as we have seen in recent geopolitical conflicts," he said. Citing the defence budget figures, Singh said, it was Rs 6.21 lakh crore that will go up by ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9.5 per cent to 6.81 lakh crore in 2025-26. And we should be spending over the next decade, something between USD 20-25 billion, perhaps even USD 30 billion per annum, "as per our modernisation initiatives", he added. Earlier in his address, the top official in the ministry underlined that an industrial ecosystem is being envisioned where "incumbency advantage would not prevail over the abilit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y of start-ups of agile private sector entrepreneurs," to bring into the ecosystem and to bring in disruptive technologies. In this direction, the Ministry of Defence intends to work towards "streamlining our acquisition process, reduce timelines of various activities without impacting the integrity of the system", with the intention of ensuring faster contract awards, greater visibility to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... industry regarding procurements on the anvil, and all-round efforts to deliver projects and fulfil contracts on time. "Additionally, enhancing self-reliance in production with focus on 'Atmanirbhar Bharat', as enunciated by our honourable Prime Minister repeatedly, requires an integrated approach by the government, financial institutions and by the industry," he said. "We are partners in this p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rocess, and we need to enhance our interactions through engagements like today's. Strengthening collaboration to accelerate indigenous defence production and establishing a robust defence ecosystem requires collaboration between the military and the civilian sector, supporting the industry to create cutting-edge defence technologies by investing in research and development will strengthen our stra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tegic capabilities," Singh said. Sanjeev Kumar, Secretary, Department of Defence Production in the defence ministry; Michael Williamson, president, Lockheed Martin International also addressed the gathering in a separate session during the conclave. Williamson in his address, said, "We face an increasingly complex and threatening geopolitical environment." US-based Lockheed Martin has been as ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sociated with India for over seven decades and a trusted partner for the country for over three decades, he said. 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