The North News
New Delhi, October 10
Today, India is globally the fourth-largest economy and the fastest-growing large economy in the world, Defence Minister Rajnath Singh said on Friday, as he addressed the maiden India–Australia Defence Industry Business Round Table in Sydney.
Speaking at the event, Singh reaffirmed the growing synergy between India and Australia across strategic, industrial and technological domains. “Under the banner of our Comprehensive Strategic Partnership, established in 2020, we stand at a pivotal juncture to re-position our defence relations, not merely as partners, but as co-creators of a secure and prosperous Indo-Pacific,” he said.
The Defence Minister highlighted India’s economic rise, noting record defence production of ₹1.51 lakh crore (USD 18 billion) last financial year — an 18% increase — and defence exports reaching ₹23,622 crore (USD 2.76 billion) to nearly 100 countries.
Rajnath Singh outlined opportunities for co-development and co-production in key areas such as autonomous underwater vehicles, flight simulators and propulsion technologies. He also underscored India’s strengths in manufacturing, software, shipbuilding and missile technology, while noting Australia’s niche expertise in advanced technologies.
“Our industrial partnership, based on joint R&D, innovation, co-creation and co-production, still has untapped potential,” he said, calling for deeper industry collaboration.
The minister highlighted successful industrial partnerships including Indo-MIM with Thales Australia and Tata Advanced Systems with W&E Platt Pty Ltd. He welcomed Australia’s proposal for a reciprocal provision of defence articles and services MoU, describing the move as a “testament to trust and confidence” between the two countries.
The round table was jointly organised by Ministry of Defence (India), Australian Department of Defence, Newland Global Group and Australia-India Business Council. The event was attended by Australia’s Assistant Minister for Defence Peter Khalil, along with senior officials, diplomats, and industry leaders from both nations.
