India’s burgeoning defense sector offers major biz opportunities

Government has set the defence production target at $ 25 billion by 2025, including $ 5 billion from exports

India’s burgeoning defense sector offers major biz opportunities

In the past few days the government has taken two major steps in the defense sector that underline not only the self-reliant (atmanirbhar) thrust to the vast sector but also the big business potential the sector offers to Indigenous businesses such as micro and medium enterprises.

For the record, the government has set the defense production target at $ 25 billion by 2025, including $ 5 billion from exports. The government has released Defence Acquisition Procedure 2020 (DAP) to transform India into a global manufacturing hub with a focus on indigenously designed, developed, and manufactured weapon systems. There could be a major business opportunity for NRIs too, experts said.