Defense Secretary: private firms may build ballistic missiles in India
Big news from India's defense sector: private companies might soon get the green light to make ballistic missiles, a space that was only for government firms until now.
Defense Secretary Rajesh Kumar Singh shared this update at the CII Annual Business Summit, following recent moves to include private players in building next-generation fighter jets under the AMCA program.
Defense exports up 62.66% FY 2025-26
Singh said involving private companies will speed up missile development and encourage sharing of advanced tech.
He also said the government is working toward a new credit scheme to help boost India's defense exports, especially to less developed countries.
With three consortiums (including private ones) now chosen for the AMCA project and defense exports jumping 62.66% in FY 2025-26 over the previous fiscal year, India is clearly betting big on its homegrown industry and aiming for major global impact by 2047.