New Delhi, June 2: Defence Minister Rajnath Singh on Friday said that India is not an emerging but a resurgent power that is regaining its place on the global economic map under the leadership of Prime Minister Narendra Modi.
Singh’s remarks came while he was addressing an event here in New Delhi.
He began his address by stating that until the 17th century, India had a remarkably strong economy, constituting over a quarter of the world’s GDP, but it lost its glory due to a weak military and political slavery.
The Defence Minister asserted that the government is working on both these fronts to ensure that India regains its old glorious status. He stated that no stone is being left unturned to create a strong, young & tech-savvy Armed Forces on the back of a robust defence industry that indigenously manufactures state-of-the-art weapons/equipment, while efforts are also being made to get rid of the colonial mindset.
“A strong military not only secures the borders but also protects the culture & economy of a country. The goal is to build a strong, self-reliant and prosperous nation, which caters to its own needs as well as the requirements of friendly countries. This is an era of renaissance. It is time to re-establish India as a global superpower,” he said.
Citing a report by Morgan Stanley, Singh said that after naming India among the ‘Fragile 5′ economies in 2013, the investment firm recently stated that the country will be the third largest economy by 2027.
He termed it as a testament to the growth of the Indian economy in recent years. He was of the view that the phrase ’emerging power’ can be used for India in the immediate perspective, but for the long term, he views it as a resurgent power, which is regaining its place on the world economic map.
Singh listed out a number of reforms undertaken by the Government to facilitate the economic growth of the country. These include direct tax reforms, GST and steps to enhance the ease of doing business. “There has been a revolutionary transformation in all sectors and foreign investors today see India as an attractive destination, he said.
On the transformative changes brought about in the defence sector in the last few years, the Defence Minister stated that a number of steps have been taken to achieve complete ‘Aatmanirbharta’ in the manufacturing of weapons and technologies. The major decisions include notification of four positive indigenisation lists of 411 items on behalf of the Armed Forces & four other lists of 4,666 items for DPSUs, besides setting up of Defence Industrial Corridors in Uttar Pradesh and Tamil Nadu.
Shedding light on the positive results achieved due to the Government’s efforts, Singh stated that a record of over Rs one lakh crore in defence production and all-time high defence exports of almost Rs 16,000 crore in the Financial Year 2022-23 are proof of the massive growth of the defence sector. (ANI)
