Rajnath Singh says bravery and valour displayed by Indian armed forces in Galwan and Tawang is commendable
Dec 17, 2022Defence Minister Rajnath Singh said, soldiers have always shown courage and displayed their valour on every occasion. Referring to Galwan and Tawang incident, Mr. Singh said, he himself could have never imagined that such kind of magical courage they can show at the frontline.
Addressing the 95th FICCI Annual Convention in Delhi, Mr Singh said, the whole world is waiting for the defence products of India. He called upon industries to come forward and invest in research and development in defence sector as the future is very conducive for investment in the country.
The minister said, Indian defence industry has immense potential and government wants to bring it to the tune of 22 billion US dollars by 2025.
Defence Minister said that India wants to become a superpower for the welfare of the world. He said, India cannot become a superpower of the world without fulfilling the resolve to build a developed India. He said, India did not want to dominate any country or it has no intention to capture even one inch land of any other country.
Mr Singh said, when the Narendra Modi became the Prime Minister, the country was the ninth largest economy in the world and the size of the economy was about two trillion dollars.
He said, today, India's economy has become the fifth largest economy in the world with a size of three and a half trillion dollars. Mr Singh said, in the last eight years several procedural and structural reforms were done, which has prepared India to take a big leap in the path of development.
The Minister said, when the economic condition of the country is prosperous, then a lot of investment comes from abroad. Mr Singh highlighted that record Foreign Direct Investment came to the country despite the Corona crisis.
Mr Singh said, FDI worth more than 83 billion US dollar has come to India in one year and country's foreign exchange reserves are more than 561 billion US dollars.
He said, all the major economies of the world are facing an inflationary crisis, however, inflation rate is less in India in comparison to other countries.
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