India a Manufacturing Economy? India is going to formulate policies to encourage Domestic Defence manufacturing as said by Mr. Arun Jaitley. We are the world's largest arms importer, spending some 1.8 per cent of its GDP on defence. We imports about 70 per cent of defence equipment, a proposition which the government wants to change. We are going to cut on import of Combat planes, Ships and Submarines. This clearly proves that the government is not only focusing on the technological tie ups but also on becoming a MANUFACTURING Economy.
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A report from the Stockholm International Peace Research Institute has found that India is the largest imported of arms in the World. Despite rising threats, and a ‘Make in India’ program to encourage local arms production, India’s domestic defence sector has been unable to meet New Delhi’s growing requirements
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