By 2028-29, India’s annual defence production is expected to touch ₹3 lakh crore and defence exports to ₹50,000 crore, Defence Minister Rajnath Singh said on Saturday speaking at an event. In a separate development, he approved financial incentive for armed forces personnel who bagged medals in the 19th Asian Games and 4th Asian Para Games held in Hangzhou, China in September-October 2023.
For the games, gold medal winners will receive a cash reward of ₹25 lakh each, silver medal winners ₹15 lakh each and Bronze medal winners ₹10 lakh each. There are 45 medal winners who won medals in both the games, including seven Para athletes. These athletes won nine Gold, 18 Silver, and 17 Bronze medals in the Asian Games and one Gold, four Silver, and two Bronze medals in Asian Para Games.
“This financial incentive, announced by the Ministry of Defence for the armed forces personnel for the first time, will further motivate these athletes to exhibit an even better performance at qualifying events of the Paris Olympics Games 2024 for which they are currently preparing,” the Ministry said in a statement.
