National

PM for indigenous manufacturing to cut defence budget by 50 pc

 New Delhi, November 5: Indian Prime Minister Narendra Modi on Thursday emphasised on indigenous manufacturing to help slash the defence budget by 50 per cent within a decade.

Addressing an event here, Modi also stressed on developing "local" technology to help people deal with daily challenges as well as the need to provide a proper environment and mobilise resources to encourage "innovation".

"Today our nation imports defence equipment in large quantity. Is it not possible that our institutions concentrate in the area of defence and research and prepare a human resource development pool which will help in making equipment cheaper to the extent that outside importers use this talent for manufacturing. India can be a global market if we do it.

"If our institutions decide today that we will be able to cut down defence import by 50 per cent in next 10 years, then the amount we save on our defence budget will be pumped into the education sector. Will it not be a big gain? We will be self-reliant," he said.

Society is becoming technology driven and it is essential to look towards affordable technology, Modi said addressing 'Visitors' conference at Rashtrapati Bhavan.

Modi said there could not have been a century where technology played an important role as much as it does now

"As long as we are dependent on outside technology, issues will continue to remain and therefore, science is universal but technology is local. This is needed," he said.

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