Indian Economy News

Strong Economy, Technology and National Security Form Foundation of Developed India: Defence Minister Mr. Rajnath Singh

India's vision of becoming a developed nation is being driven by the combined strength of a robust economy, technological advancement and national security, according to Defence Minister Mr. Rajnath Singh. Addressing the valedictory session of the Vibrant Gujarat Regional Conference in Vadodara, the address highlighted that the Vibrant Gujarat initiative, launched in 2003, has evolved from a state-level investment platform into a nationwide movement supporting the vision of Viksit Bharat. The statement further highlighted that the conference showcased the capabilities of sectors such as industry, MSMEs, tribal products, heavy industries and defence manufacturing, demonstrating Gujarat's expanding contribution to India's economic transformation. Additionally, the statement noted that Gujarat has played a vital role in shaping the country's political, economic and social development while emerging as one of India's leading destinations for investment and industrial growth.

Highlighting the close relationship between economic progress and national security, the statement emphasised that the defence sector not only strengthens military preparedness but also drives industrial expansion, employment generation and technological innovation. The statement further underscored that initiatives such as defence corridors are creating new opportunities for manufacturing, strengthening domestic supply chains and enhancing India's industrial ecosystem. Moreover, the statement outlined that economic prosperity and technological capability reinforce national security, while a secure environment encourages sustained industrial growth and innovation. Referring to evolving global geopolitical dynamics, the statement added that India's future global standing will depend on greater self-reliance, stronger domestic industries and advanced technological capabilities. It further elaborated that sustained investment in innovation, manufacturing and defence will strengthen India's competitiveness and accelerate its journey towards becoming a developed economy.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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