SGOP Proposes Action Plan For India To Achieve Local Defence Production Worth $150 Billion By 2047: Report

A sectoral group of secretaries (SGOS) have made a presentation to the Union Cabinet Secretary detailing that India should target raising defence production to $150 billion and attract $30 billion in exports annually by 2047.

The SGOS have recognised defence manufacturing as an important category to maximise India’s production potential. It talks about developing the country as a manufacturing hub by 2047 with a total 25 per cent share in the GDP.

Other categories identified for a major ramp-up over the next 25 years are capital goods, semiconductors, pharmaceuticals and machine tools amongst others.

The SGOP has proposed that pharmaceuticals and biotech will build up to a $500-billion industry by 2047.

64 per cent of India’s budgetary outlay for defence went towards indigenous options in FY21, Economic Times reports.

The centre has set a target of 68 per cent of the same for the ongoing fiscal whereas they have come up with sector-wise action plans to reduce important dependency.

The SGOP is made up of senior officials from ministries like labour and employment, commerce, steel, textiles, pharmaceuticals, MSME amongst others.