: Defence Minister woos investors & foreign OEMs to participate in Indian defence sector #finance #StockMarketNEWS Defence Minister woos investors & foreign OEMs to participate in Indian defence sector

Defence Minister woos investors & foreign OEMs to participate in Indian defence sector #finance #StockMarketNEWS
Defence Minister woos investors & foreign OEMs to participate in Indian defence sector Gandhinagar, Oct 20 (KNN) Defence Minister Rajnath Singh on Thursday called for investment from domestic industry and Foreign Original Equipment Manufacturers (OEMs) in the Indian defence sector.

Speaking at the Invest for Defence’ investor outreach event organised as part of 12th DefExpo in Gandhinagar, he urged the investors to take advantage of the opportunity to integrate global supply chains, said the official statement.

Commenting on the enthusiastic participation of domestic industry and businesses, he said the trust of the industry stakeholders is encouraging and reflects their faith in the Indian defence sector.

He added that this is a golden period for Indian Defence Industry, which will be a sunrise sector in the years to come.

Sharing the government’s future plans for the defence sector, he asserted that the target is to increase defence production in India from USD 12 billion to USD 22 billion by 2025.

This provides unparalleled opportunities for growth to industry in the coming years, he added.

Speaking on the achievements of the Indian Defence industry, he said the domestic industry has demonstrated its capabilities by building Fighter Aircraft, Aircraft Carrier, Main Battle Tanks and Attack Helicopters and gained experience to build an ecosystem through these projects.

He termed DefExpo 2022 as an excellent platform for existing and prospective investors to become a part of the phenomenal growth of the Indian defence industry.

The event featured a panel discussion between the industry stalwarts and the MoD and Armed Forces leadership.

A B2B interaction among the OEMs, including both DPSUs and foreign OEMs, was also held. (KNN Bureau)