Why in news?
- India became the world’s largest arms importer as it did not utilize its capacities to full potential after Independence, Prime Minister Narendra Modi stated
- He asserted that India was looking to achieve defence exports worth ₹35,000 crore in the next five years
- A long-term integrated defence plan was being conceptualized with emphasis on startups and Micro, Medium and Small Enterprises (MSMEs). Two hundred defence startups were likely to come up to give a push to indigenisation