Defence Minister Rajnath Singh said Monday that India could surpass Prime Minister Narendra Modi’s dream of a $5-trillion economy and can become a $10-trillion economy over the next decade or so. Talking about the startups that have participated in the Centre’s Innovations for Defence Excellence (iDEX) initiative, Singh said “it has boosted his self-confidence”.
Speaking at a Def Connect conference organised by the Defence Ministry, Singh said that Modi “has set a target of a $5-trillion economy by 2024, but looking at the talent India possesses, I am pretty confident that we can become a $10-trillion economy in the next 10-15 years”.
India, he said, “is leading in the fields of technology and peacekeeping throughout the world” and as a major global power, “it is equally important for us to strengthen our defence manufacturing and research and development”.
To become self-reliant, Singh laid emphasis on “ideation, innovation and incubation” in cutting edge-technologies.
“Where there is knowledge, there is power,” the Defence Minister said, adding, “where there is knowledge and power, there is also the need to have restraint.” “We cannot achieve our goals just by knowledge and power, there is also the need of restraint along with them,” Singh said.
“If we have valour and courage, then patience is also equally required,” he added.
Singh compared the startups to knowledge, and armed forces to power. He said this union will ensure the development of a strong nation that can not only defend its interests but can also better answer any misadventures by the country’s enemies. “Through your talent and creativity, India will soon come forward as a net innovator and a net exporter, from being a net importer in the field of defence technologies and platforms,” Singh told the startups in attendance.