PM Modi stressed on the need for innovation in the defence manufacturing sector.
Noting that India imports defence equipment in large quantity, Prime Minister Narendra Modi today emphasised on indigenous manufacturing to help slash the defence budget by 50 per cent within a decade.
Addressing an event, PM Modi also stressed on developing "local" technology to help people deal with daily challenges as well as the need to provide a proper environment to encourage "innovation".
"Today our nation imports defence equipment in large quantity. Is it not possible that our institutions concentrate in the area of defence and research and prepare a human resource development pool which will help in making equipment cheaper to the extent that outside importers use this talent for manufacturing. India can be a global market if we do it," said PM Modi.
"If our institutions decide today that we will be able to cut down defence import by 50 per cent in next 10 years, then the amount we save on our defence budget will be pumped into the education sector. Will it not be a big gain? We will be self-reliant," he said.
Society is becoming technology driven and it is essential to look towards affordable technology, PM Modi said addressing 'Visitors' conference at Rashtrapati Bhavan.
He also released an 'IMPRINT India' brochure and handed over the first copy to President Pranab Mukherjee. 'IMPRINT India' is a Pan-Indian Institute of Technology (IIT) and Indian Institute of Science (IISc) joint initiative to develop a roadmap for research to solve major engineering and technology challenges in ten technology domains relevant to the country.
"As long as we are dependent on outside technology, issues will continue to remain and therefore, science is universal but technology is local. This is needed," said the Prime Minister.
PM Modi said these days global warming and environment are being talked about in the world. For some countries, global warming is an issue of concern and for some it is an area of marketing.
"They have already decided to convert global warming into a marketing opportunity. For India it has become mandatory for future generations to bring forth innovation which are cheap, good and also easily adaptable by common people and if we are able to do this, billions of people will be able to adopt it," he said.