Private companies are also entering the field of defense research and production. For so long, the DRDO, India’s defense research, and development organization have been overseeing the issue. From now on, non-governmental organizations researching defense technology and science will be able to help the government in this regard. The Center will arrange for whatever government approval or examination is required for it.
The Union Finance Minister on Tuesday allocated 25 percent of the total allocation in the defense sector for the cooperation of government agencies and non-government organizations in this regard. In addition, this year, additional emphasis has been placed on the purchase of defense equipment made by domestic companies. From now on, 6 percent of the total expenditure on defense equipment will be spent on purchasing equipment from domestic companies.
It is to be noted that in the budget, India allocates about two percent of the GDP to the defense sector. India ranks third in the world in terms of defense budget allocation.
