New Delhi: Anand Mahindra, the Chairman of the Mahindra Group stressed the importance of private industrial corporations in developing military power while stating that there is a huge opportunity for an Indian version of a military-industrial partnership.

He was addressing the fourth Atal Bihari Vajpayee Memorial lecture, which was organised by the Ministry of External Affairs.

Addressing the lecture, Mahindra said, "Without industry, as an actor first two prongs military and soft power would only be pale shadows of themselves. Let's take military power, to begin with. The development of the military-industrial complex in America was the pivotal factor in building the might of its armed forces and of course."

He said that in addition to the robust government spending on military research, American military power was shaped by the formidable manufacturing capabilities of large American corporations.

"There was substantial government funding and spending on military research for sparking innovation. But, it was the formidable manufacturing capabilities of large American corporations that provided the muscle and sinews of American military power," he said.

The Mahindra Group Chairman said there is a huge opportunity for an Indian version of a military-industrial partnership to emerge.

"Today there is a huge opportunity for an Indian version of a military-industrial partnership to emerge. We welcome the lists of defence hardware that have been put out by the Defence Ministry and which ensure that certain products can only be sourced from Indian suppliers. A step that speaks of confidence in the Indian industry and that's a promise we will fulfil," he added.

External Affairs Minister S Jaishankar also commended Anand Mahindra for his "insightful address" while stating that the memorial lecture is MEA's tribute to former Prime Minister Atal Bihari Vajpayee's foreign policy.

Taking to social media platform X, he stated, "The annual Atal Bihari Vajpayee Memorial Lecture is #TeamMEA's tribute to his foreign policy. Commend @anandmahindra's insightful address at its 4th edition. The collaboration between business, technology and foreign policy is essential for Viksit Bharat."

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