New Delhi [India],
The minister discussed India’s shipping and huge development capacity in the logistics sector, which was focusing on inland container terminals, shipbuilding, maintenance and investment in container construction.
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In addition, the minister considered deep sea ship partnership and policy reforms to increase the country’s global maritime competition, promoting development, innovation and self -reliance in the region.
Earlier in the day, he also held a meeting with a delegation led by Michael Williamson at Lockheed Martin International.
He discovered opportunities for the construction of aircraft in India to further strengthen the ‘Make in India’ initiative in aerospace and defense sectors.
The government has introduced several policy measures and reforms to promote indigenous design, development and production of defense equipment, which can lead to self -reliance in defense construction.
Important investments are being made in defense and aerospace construction with the installation of several defense hubs. In addition, many global companies have already shared, or have shown a desire to share with India, significant defense and aerospace expertise.
India’s defense exports reached Rs 21,083 crore (about 2.63 billion USD) in the financial year 2023-24, increased by Rs 15,920 crore to 32.5 percent in the last financial year. In particular, the defense exports have increased by 31 times in the last decade compared to 2013–14. The total value of defense production in India also increased by 17 percent to Rs 126,887 crore in the last financial year. (AI)
This report has been auto-generated from Ani News Service. Theprint does not have any responsibility for its content.