India is set to become a major exporter of defense equipment and materials, with exports projected to be worth Rs 35,000 to Rs 40,000 crore by 2026. The announcement was made by Union minister Rajnath Singh during a speech at Symbiosis International University, where he emphasized the importance of self-reliance and creating an ecosystem that fosters self-confidence. Since adopting the Indianization program, India’s defense exports have increased from Rs 900 crore in 2014 to Rs 15,000 crore to Rs 16,000 crore today. Singh expressed his pride in the country’s defense forces, which are now meeting 80% of their needs through indigenous procurement.
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Singh also urged the country’s youth to contribute to India’s growth by ideating, innovating, and setting up new companies and research and development establishments. He cited the establishment of a link between academia and industry as an example of the government’s efforts to promote research and development. He emphasized the need to direct the energy of youth towards nation-building and social welfare and to moderate this energy through values, cultures, and traditions.
Singh also spoke about the steps taken by the government to promote retail investment, such as curbing insider trading, promoting technology and digital architecture in the trading process, and making the trading process more transparent. He noted that the increased participation of retail investors has contributed to the depth and resilience of the market.
Finally, Singh emphasized India’s growing stature on the international stage, citing the country’s projected rise in the global economic rankings and the increased attention it receives at international forums. He urged his audience to embrace self-confidence and work towards creating a brighter future for India.
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