Prospects and opportunities in Indian defence industry
As India’s geopolitical interests are expanding in Asia and Africa, the NDA government headed by Prime Minister is giving emphasis to faster modernization of Indian Armed Forces and indigenous development of defence technology.
For PM Modi, who has launched ‘Make in India’ campaign for both civilian and defence sector, the primary objective for civilian sector is to create jobs while for Indian defence sector he is giving emphasis to new generation military technologies.
Although India’s arms import is falling by small percentage, its dependence on new generation technology is growing due to lack of research and development in acquiring state of the art technology for its military forces.
Of late, India’s new leadership has realized that without a strong military it will not be able to ensure its geopolitical interest across the region to sustain a strong economic growth.
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