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Defence Minister Rajnath Singh today said the country would step up indigenisation in defence sector and exports will go up significantly by 2025.
Addressing the 50th year Golden Jubilee celebrations of Bharat Dynamics Ltd (BDL) today, Rajnath Singh said the modernisation of the armed forces is top on Government agenda where Bharat Dynamics, as a missile maker and other defence equipment, will play a major role.
As the country aims for a $5-trillion economy, the defence offset initiatives will boost investments and indigenous manufacturing.
He said the country’s defence architecture is based on balance, restraint and destruction when needed. “Our missile technology development is not to show our country’s aggression. While our neighbour names missiles as Babar, Ghouri, Ghazi for aggressive posturing, our missiles are named as Prithvi, Akash, Agni, Nag and Trishul. Our Army works for peace and stability,” he said.
Referring to BDL and its role in indigenisation of various defence equipment, the Minister said as a defence PSU, it has already manufactured and supplied more than one lakh missiles and other equipment. It won’t take much longer to become a $1 billion company as orders would swell based on its capability.
BDL Chairman and Managing Director Siddharth Mishra said the company, which started with a few lakh rupees, has done business of ₹5,000 crore during 2016-17 and the plan is to expand further. “We want BDL to get more export orders for the weapon systems produced in the country. We are also working with a newer version of missiles and other projects with DRDO,” he said.
BDL plans to indegenise the highly-priced top 20 components within two-three years. Memorandums have been signed with T-Hub for defence-related innovative products and with IIIT, Hyderabad for defence equipment equipped with artificial intelligence under Innovation for Defence Excellence Scheme.
A statue of APJ Abdul Kalam, former President, who played a key role in the country’s missile development and weapon systems, was unveiled coinciding with the BDL Golden Jubilee celebrations.
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