 "Rajinder Singh Bhatia")
India needs to establish a national defence innovation authority that brings industry, academia and the armed forces onto the same platform to ensure the country can meet the projected annual defence procurement of $140 billion by 2047 through indigenous technology, Society of Indian Defence Manufacturers (SIDM) President Rajinder Singh Bhatia said on Tuesday.
“If the current rate of about nine per cent growth in the budget continues, India’s defence budget is likely to reach $400 billion by 2047, with defence acquisition rising to $140 billion,” said Bhatia, who is also the chairman of Kalyani Strategic Systems Limited, the defence subsidiary
