The Indian Defense Minister Rajnath Singh recently said that orders worth over $100 billion would be placed through the local defense sector in the next 5-10 years.
The defense minister made these remarks during the Naval Commanders’ Conference on March 6, held aboard India’s first Indigenous Aircraft Carrier, INS Vikrant.
In his address to the Commanders, Singh highlighted that economic prosperity and security are closely related while pointing out that the defense sector has emerged as a significant demand creator, bolstering the economy and ensuring the country’s development.
