India Targets $5 Billion Defence Export with Enhanced FDI and R&D by 2024-25

A study suggests that streamlining Foreign Direct Investment (FDI) and boosting Research & Development (R&D) and manufacturing capabilities can help India achieve its USD 5 billion defence export target by 2024-25. The findings, released by Nexgen Exhibitions, highlight the need for advanced technology and skills integration to transform India's defence manufacturing sector.

PTI | New Delhi | Updated: 17-06-2024 15:57 IST | Created: 17-06-2024 15:57 IST
India Targets $5 Billion Defence Export with Enhanced FDI and R&D by 2024-25
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India is gearing up to achieve a USD 5 billion defence export target by 2024-25 by optimizing Foreign Direct Investment (FDI) and strengthening its Research & Development (R&D) and manufacturing capabilities, according to a comprehensive study by Nexgen Exhibitions. The findings were revealed at the International Police Expo, a premier homeland security and defence event.

The survey involved participation from over 130 national and international arms, ammunition, and security equipment manufacturers, highlighting the critical need for streamlined FDI, advanced technology integration, and an ecosystem of industry-ready professionals. Enhancing these areas positions India's homeland security and defence sectors as burgeoning global manufacturing hubs.

Additionally, the study emphasizes expanding procurement categories and enhancing quality and innovation to boost domestic defence manufacturing. The government's policies and international collaborations are pivotal in driving India's defence exports to meet the ambitious USD 5 billion target by 2024-25.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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