Prime Minister Narendra Modi has said that defence manufacturing could be the biggest job spinner in the country as the government puts focus on manufacturing arms and equioments at home.
Speaking to the Wall Street Journal, the prime minister said that India needs to be very bullish about defence manufacturing because it is not only strategic but also the country’s defence imports is quite high. India is the world’s largest importer of arms, accounting for 14 per cent of global purchases.
“If I look at it from an economic point of view and to provide jobs to my country’s young peope, the defence-manufacturing sector can provide maximum number of jobs to my country’s youth,” he told WSJ. He was working hard for it and had been talking to other countries as well.
India wants to be a nation which can boast about its manufacturing capabilities. In the last two years, the Modi government has made it clear that India now wants to be a manufacturing nation and defence manufacturing is one of the biggest sectors for the country.
The government has relaxed foreign investment norms for the defence sector that also figures big in its ambitious Make In India plan.
By Atanu Kumar Das
