New Delhi, August 15: Progress in defense production, agricultural exports, and energy security could significantly enhance India’s self-reliance, experts say. In discussions, they emphasized that indigenous defense manufacturing, the expansion of Free Trade Agreements (FTAs), promotion of millets, and the development of diverse energy sources will play a crucial role in strengthening India’s economic and strategic power.
Defense expert Brigadier Hemant Mahajan (Retd) stated that India has made remarkable strides in defense production and exports over recent years. He noted that defense production has increased nearly fivefold compared to 2014, while exports to friendly and neighboring countries have surged by about 50 times.
Mahajan further explained that the rise in domestic defense equipment production will bolster India’s strategic capabilities and reduce dependence on foreign suppliers. He remarked, “A self-reliant defense sector not only provides economic benefits but is also vital for national security. By enhancing indigenous technology and manufacturing capacity, India can strengthen its presence in the global defense market and avoid reliance on foreign countries during emergencies.”
In a conversation with Aditya Sesh, a chartered accountant associated with the Ministry of Agriculture and Farmers’ Welfare, he highlighted that recent FTAs could create new export opportunities for agricultural products, particularly millets. He pointed out that millets such as pearl millet, sorghum, and finger millet can be grown with less water, have a long shelf life, and are highly nutritious.
Sesh noted that the demand for millets is not limited to India; there are significant prospects in international markets as well. He stated, “Millets can be utilized domestically and also exported. Many types of cereal bars and health products currently imported can incorporate millets.”
He added that the increasing popularity of millets is reflected in the market, with prices rising by approximately 15 to 25 percent this year.
Sesh identified Maharashtra as a crucial hub for agricultural growth in India, citing the state’s diverse agro-climatic conditions that provide an advantage in producing grains, fruits, and vegetables. He mentioned that initiatives like Geographical Indication (GI) tags and One District One Product (ODOP) can help farmers secure better prices for their products.
Regarding energy security, he emphasized the need for India to develop diverse energy sources to tackle future challenges. According to him, relying on a single energy source can be risky amid global supply disruptions and geopolitical tensions.
Sesh advocated for promoting ethanol-blended fuel (E20) and increasing investments in solar, wind, hydrogen, and nuclear energy. He believes that a diverse energy portfolio will make the country stronger and more self-reliant.
He remarked that in the current global scenario, almost every item and resource can be used as a strategic weapon. Therefore, India must ensure that external disruptions do not affect its sovereignty, economic stability, and national security.
Meanwhile, local traders in Raigarh, Chhattisgarh, welcomed Prime Minister Narendra Modi’s announced ‘Saptadhara’ as a significant roadmap for the country’s economy. They expressed that the government’s focus on seven key sectors could create new business, investment, and employment opportunities in the coming years.
Vijay Chhabra, a textile trader from Raigarh, mentioned that the Saptadhara initiative emphasizes manufacturing, agriculture and food processing, technology and AI, infrastructure development, defense and civil defense, green-blue economy, and India’s soft power. Strengthening manufacturing and local value chains will boost investment and provide new opportunities for small and large traders and industries.
Another trader, Ravi Katare, stated that if the government effectively ensures the availability of raw materials at affordable prices for industries, production costs will decrease, benefiting both traders and consumers with lower prices.
Vijay Agarwal, another trader, noted that businesses have faced numerous challenges since the COVID-19 pandemic. Rising prices of various goods have increased costs, directly impacting the market and consumer purchasing. In this context, the new industrial policy and initiatives under Saptadhara could play a crucial role in revitalizing trade.
Additionally, local trader Omkar Singh Bagga emphasized that if these plans are rapidly implemented at the grassroots level and industries are provided with necessary facilities and affordable raw materials, the next 5 to 7 years could be pivotal for India’s economic progress. This could lead to a surge in production, investment, employment, and business opportunities.
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