The defence industry in India is at the "cusp of a massive expansion", Defence Secretary Rajesh Kumar Singh has said even as he suggested that public-private-partnership would be "critical" in making the country a hub for advanced manufacturing in the sector.

In his address at a defence conclave here late Monday evening, he also said the intention of the government is to build a "technologically advanced" and "combat-ready force" that can effectively address the "complexities of modern warfare".

The event was hosted by Axis Bank to bring together different stakeholders, including government officials, industry members, financial institutions, among others under one roof.

Singh said the conclave fosters collaboration among different stakeholders from the defence industry ecosystem, including those who would finance them. Creating a unified platform for discussions on 'Atmanirbhar Bharat', empowering the defence ecosystem is a "critical issue" right now, he added.

"It is an ongoing effort which we sort of need to continue to focus on. It is also in line with our priorities of modernising and reforming the defence ecosystem in our quest for 'Atmanirbharta' or strategic self-reliance," the defence secretary said.

He recalled that Ministry of Defence recently declared 2025 as the "year of reforms", saying the objective is to make systems and procedures more efficient, streamlined in order to deliver timely outcomes.

"The intention is to build a technologically advanced and combat-ready force that can effectively address the complexities of modern warfare," he said.

In his address, Singh emphasised about working together with different stakeholders to create a robust defence ecosystem.

Relaxation in the FDI policies and industrial licensing procedures are other elements that will propel the growth in the Indian domestic defence industry, he said.

"Our exports have increased to `21,000 Crore, almost a 30 times jump in the last ten years. It is very obvious that the defence industry in India is at the cusp of a massive expansion," the defence secretary said.

The current industrial ecosystem of India, which comprises various defence PSUs, licensed companies and MSMEs are the "pillars of this expanding industrial base", he added.

"Our focus has to be on reducing industry barriers for new players and new technologies. So that our defence industrial ecosystem becomes adaptive, agile, and capable of responding quickly to the changing nature of warfare, as we have seen in recent geopolitical conflicts," he said. Citing the defence budget figures, Singh said, it was `6.21 Lakh Crore that will go up by 9.5 per cent to 6.81 Lakh Crore in 2025-26.

And we should be spending over the next decade, something between $20-25 Billion, perhaps even USD 30 billion per annum, "as per our modernisation initiatives", he added.

Earlier in his address, the top official in the ministry underlined that an industrial ecosystem is being envisioned where "incumbency advantage would not prevail over the ability of start-ups of agile private sector entrepreneurs," to bring into the ecosystem and to bring in disruptive technologies.

Agencies