India will achieve third rank in the world economy by 2027: Rajnath Singh
India will achieve third rank in the world economy by 2027: Rajnath Singh
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PUNE: Rajnath Singh, India's defence minister, said on Monday hat the country will be developed by 2047 since cyberspace threats to the defence industry have increased. Speaking at the Defence Institute of Advanced Technology (DIAT) graduation event in the Pune area of Maharashtra, Defense Minster said that the country is now becoming self-sufficient and that by 2027, India will rank third in the global economy.

"The world is changing very fast. The defence industry is likewise undergoing upheaval as a result of numerous technological advancements. Numerous issues have emerged in the defence industry, particularly as online threats have grown, he said. But given the current circumstances, we must proceed towards technological advancement. There is always a way to overcome a problem. The Minister stated that now efforts should be made to enhance the technology.

The Defene Minster emphasised the need for self-reliance, saying that this does not imply that we should be unique from other nations but rather that we should be able to manufacture and sell the necessities of life.

Producing goods domestically will aid in job creation as well. "Under Prime Minister Narendra Modi's leadership, we have seen a dream that by 2047, India will be a developed country in the world," he added.

"We are seeing an increase in the export of defence equipment," Rajnath Singh stated. The export in this industry was only 900 crore in 2014, but it is currently 16,000 crore. Since India is currently the world's largest centre for start-ups and because we are bringing new ideas, the import has decreased. India is producing aircraft, missiles, and rifles, he said.

India is progressing towards independence. The potential of India overtaking the United States as the world's leading economy likewise cannot be discounted, the Minister added. "Economic experts assert that by 2027, India will achieve the 3rd rank in the world economy. We should work towards realising our ideal," he said. Addressing the gathering, he expressed his pride at attending the 12th convocation of DIAT. "Right from its set-up, the institute has done remarkable work and today I can see the future of our country," he added.

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