PUNE: Industrialist Baba Kalyani on Thursday said India would be a net defence equipment exporter by 2030 in view of its current policies on indigenisation.
“By 2030, India will be a different country to what it is now. Our GDP can be around US $7-8 trillion, and we should be a net exporter in defence equipment by then,” Kalyani said during a press conference on the ‘Punyabhushan Puraskar’ by the Punyabhushan Foundation, which was announced in 2020, but will be awarded to Kalyani at a ceremony on Saturday.
He added, “However, there are significant challenges, the biggest one of which is climate change. We have to be able to figure out how to achieve net zero in carbon emissions. Related to that is the challenge of reducing energy consumption, which has to be achieved via creating a circular economy, and the increased use of renewables. ”
“I believe that internal combustion engines will disappear within 30-40 years. We have been investing in electric mobility and green hydrogen production. We have also invested in e-mobility firm Tork, and producing electric powertrains for three wheelers,” he said.
Kalyani’s Bharat Forge now has significant interests in the Indian defence manufacturing sector, producing artillery, armoured vehicles and tech-based defence systems.
The group has also been transforming away from forges to a full original equipment manufacturer (OEM), with upcoming investments and R&D into defence and electric mobility, among other segments.
