Swati SharmaAIR 17 · CSE 2023 · 127 wordsTheir whole copy
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Defence sector has been recently liberalised to enhance the potential of sector along with to create more secure borders. The importance of startups in defence sector -
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nuclear weapon protection
- border security
- equipments and weapons
- saving lives of millions
- strategic autonomy in international affairs
The importance of startups in defence sector -
i) India has set a target of $770bn exports in defence sector. Startups can create an ecosystem for more exports.
ii) India is import dependent on weapons and equipments - eg - Russia accounts for around 70% of imports of weapons.
iii) Enhance bilateral relations with countries eg - USA's technology transfer can help in defence exports
iv) Decrease fiscal deficit and enhance revenue for social sector.
However, challenges - → low funding → STEM education → low research & development → Conflict of interest
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Defence sector is crucial for domestic and international reconissance capacity being a net security provider.