Why is India's Defence Sector Booming? | Mint Explains | Mint

The video discusses India's booming sector and its shift towards self-reliance in defence equipment. The Indian government has introduced measures to boost investments in the defence sector, including simplification of procurement procedures, provision for government funding of up to 70% of development costs, and an increase in foreign direct investment to 74% through the automatic route. India's focus on indigenous defence equipment is not just a step towards self-reliance but also a statement to the world that it has the capability and expertise to manufacture top-quality weapons. The video also discusses India's growing presence in the global arms market and its ambitious target of achieving defence manufacturing worth Rs 1,75,000 crore ($21.4bn), including defence exports of Rs 35,000 crore ($4.3Bn) by 2024-25.

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