Defence Minister Rajnath Singh today said defence sector can help in realizing the vision of making India a five trillion dollar economy.
He said the National Democratic Alliance Government is playing the role of an incubator, catalyst, facilitator and consumer, without becoming an impediment in the maturing of the Indian private sector defence industry.
Delivering a key-note speech at the Economic Times Global Business Summit in New Delhi, Mr Singh said, the government aims to achieve exports of defence goods and services to the tune of five billion dollars in next five years. He said, all possible support would be extended to the private sector so that they can contribute significantly to achieving the target.
The Minister said that several important steps have been taken to create a climate in which the private sector and the public sector together contribute on the basis of their respective strengths and experience. He said, India’s growth story has just begun on the back of solid structural reforms and macro-economic stability.
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