Reform Push Strengthens India’s Business Environment Over Last 10 Years

Defence Minister Rajnath Singh today said that India has undertaken a series of structural reforms over the past decade to improve the ease of doing business and make India an attractive destination for investment. Addressing the Indian and German Defence Industry leaders during the Defence Investor Summit in Munich, Germany, Mr Singh invited the German industry to co-develop and co-produce with India, particularly in the field of niche technologies. He reiterated that Indian companies are keen to engage with German companies for co-development and co-production in areas including advanced radar and sensor technology, AI-enabled Unmanned Aerial Systems and High Power Low Frequency Underwater Transmitters. The Minister added that India is one of the fastest-growing and most stable major economies in the world, with a strong macroeconomic foundation and a clear policy direction. The Defence Minister pointed out that India recognises the significant role of the defence sector in the journey towards becoming a developed nation and has placed it at the heart of its industrial and technological strategy. Mr Singh appreciated the deepening of India-Germany defence relations through significant industrial partnerships, with a growing focus on co-development and co-production.