The Union Minister of State for Defence, Shripad Naik on July 15 inaugurated the conference on Aerospace and Defence Manufacturing Technologies in New Delhi.
The theme of the 5th edition of the conference was Empowering India with ‘Atmanirbhar Bharat Mission’. Mr. Naik during his inaugural address highlighted several initiatives by the central government.
The conference was jointly organised by the Confederation of Indian Industry, Tamil Nadu Technology Development and Promotion Centre, Society of Indian Defence Manufacturers.
Attended and addressed the 5th edition conference on 'Aerospace & Defence Manufacturing Technologies' empowering India with "Aatma Nirbhar Bharat Mission" through VC today. pic.twitter.com/0SD4dEwmjW
— Shripad Y. Naik (@shripadynaik) July 15, 2020
Inaugural address by Shripad Naik:
The Union Minister Shripad Naik in his inaugural address mentioned that the Indian Defence and Aerospace Industry is on the threshold of transformation and this change is taking place under the several initiatives of the Indian government to promote ‘Make in India’ and ‘Atmanirbhar Bharat Abhiyaan’.
Shripad Naik also encouraged that the Indian Aerospace and Defence Industry must rise to the occasion to shoulder greater responsibility in making the nation self -reliant in Defence production.
Objective of Defence Production Policy:
In his inaugural address during the conference, while talking about being self- reliant, the union minister mentioned the target of achieving 26 billion dollars domestic production by 2025, which is a stated objective of the Defence Production Policy.
He informed that in recent years' defence sector in India has grown extensively. The minister added that the sector has increased at a Compound Annual Growth Rate of 9.7% from 2008 to 2016, reaching the current levels of 42.83 billion dollars in the year 2017-2018.
Mr. Naik also informed that the Aerospace and Defence Industry in India is estimated to reach around 70 billion dollars by 2030.
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