India will be a developed nation by 2047, Defence Minister Rajnath Singh said on Monday while laying emphasis on the advancement of technology amid a rise in cyberspace threats in the defence sector.
The country is now becoming self-reliant and as per economic experts, India will achieve third rank in the world economy by 2027, Singh said while speaking at the convocation ceremony of the Defence Institute of Advanced Technology (DIAT) in Maharashtra's Pune district.
"The world is changing with a rapid speed. The defence sector is also witnessing a change as we can see multiple technical changes in this sector. Many problems have arisen in the defence sector, especially the threats in cyberspace have increased," he said.
"However, with the changing situation we have to move towards advancement in technology. If there is a challenge, there is a solution. Now, efforts should be put forward to advance the technology," the minister said.
Stressing on self-reliance, Singh said it does not mean we should be different from other countries, "but the objective is that the basic requirements should be manufactured by us and we should be able to export them.
Manufacturing products in the country will also help to create employment. "Under the leadership of Prime Minister Narendra Modi, we have seen a dream that India will become a developed nation in the world by 2047," he said.
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Singh said, "We are witnessing a rise in the export of defence equipment. Back in 2014, the export in this sector was Rs 900 crore, but now it has gone up to Rs 16,000 crore. The import has reduced as India is now the biggest hub of start-ups and we are bringing innovative ideas."
Rifles, missiles and aircraft are being made in India, he pointed out.
India is now becoming a self-reliant country. The possibility of India becoming the top economy in the world also cannot be ruled out, the minister said.
"Economic experts assert that by 2027, India will achieve the third rank in the world economy. To make our dream come true, we should work towards it," he said.
Addressing the gathering, Singh said he was proud to be at 12th convocation of DIAT.
"Right from its establishment, the institute has done a remarkable work and today I can see the future of our country," he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
