New Delhi: Defence Minister Rajnath Singh exuded Monday confidence that India will become a USD 10 trillion economy in the next 10 to 15 years. This he said so in spite of the country going through a severe economic slowdown.
Speaking at the inaugural session of ‘Def Connect 2019’ organised by the Ministry of Defence to showcase the accomplishments of the Innovations for Defence Excellence (iDEX) initiative here, Rajnath Singh said he was filled with a sense of pride looking at the startups today and stressed that passionate incubation is needed for them.
“Our Prime Minister Narendra Modi has set a target of USD 5 trillion economy by 2024. Looking at the talent India possesses, I am pretty confident that we can become USD 10 trillion economy in the next 10-15 years,” asserted Rajnath Singh. He also said that India will emerge as a net innovator and net exporter of defence technologies rather than a net importer
Describing incubation as the most critical challenge, Rajnath said, “The idea may be great and the innovative mind can also find a solution. However, unless the process of careful and passionate incubation provides the ideal environment for nurturing and hand holding a creation, projects might fail.”
The defence minister also assured the government’s full support in the indigenisation of the defence industry and nation building.
PTI