Defence Minister Rajnath Singh, on Tuesday, urged private defence companies to have a 'profit-plus' approach wherein they also keep national interest, and a desire to do something for the country in mind, apart from seeking profit in business. He was speaking at 'Swavlamban 2025', the Indian the Navy's flagship event on innovation and indigenisation, being held at the Manekshaw Centre in New Delhi.
His comments come a few days after Chief of Defence Staff Gen Anil Chauhan observed that the armed forces expect a bit of nationalism and patriotism" in the defence industry's profit-driven endeavours.
Singh said India is entering a "golden era of defence innovation" and added, "In the defence ecosystem, we have to grow in a bigger, bolder, faster mode."
The minister asserted that the more innovators grow, the more secure, capable and 'Aatmanirbhar' India will become.
“A profit-plus approach encompasses monetary profit, nationalism, a sense of duty and strategic responsibility. Our goal should not be limited to economic activity; it should be treated as a national mission. The private industry must expand its role and move forward at a new pace in production, technology, design and innovation, keeping national interests in mind,” Singh said.
The defence minister urged the private sector to increase its contribution in defence manufacturing to 50 per cent or more in the coming years.
Long-term financial burden of maintenance, repair, overhaul, and spare parts supply for defence equipment imported from foreign countries, the defence minister highlighted the need to minimise import dependency and create a strong and self-reliant domestic supply chain.
“If we strengthen local manufacturing of components and subsystems, our indigenous content will increase rapidly. This will not only enhance capability but also ensure cost efficiency, reliability, and strategic independence. This is possible only when the private sector, start-ups, R&D labs, and government institutions move forward with a shared vision,” he said.
Singh called upon the private industry to identify and apprise the government about the next big platform, disruptive technology, or a path-breaking innovation.
