How to transform India from world's largest defence importer to major exporter

The government's recent decision to deregulate manufacture of a number of items used by the defence forces will result in new players and SMEs entering the sector. Easy entry will result in an increase in the number of manufactures, with the benefit of competition that will improve both quality and cost-effectiveness. This will also encourage them to seek export markets for their products. Socio-economic growth and a credible defence capability achieved through self-reliance are fundamental for a nation to secure a globally res…