NITI Aayog member VK Saraswat said on Sunday that there is a need to increase financial support for Indian startups working in the defense sector. He said that these startups have now progressed a lot.
Asked about the balance between increasing defense cooperation with the US and maintaining partnership with Russia, Saraswat said our focus should be on meeting India’s needs and not on ‘choosing between A and B’.
Saraswat, former Director General of Defense Research and Development Organization (DRDO), said that India will continue its progress as the country has done before, no matter what the global circumstances are. He was speaking to PTI on the sidelines of ‘Advantage Vidarbha-2026 Business Conclave and Investment Summit’.
What did you say on the question of balance with America and Russia?
On ensuring that relations with Russia are not affected and defense partnership with America is strengthened, he said it is a question of meeting our security and latest weapons technology needs. It’s not a matter of ‘choosing A and B’.
What did Saraswat say on the budget allocation for defense sector?
- On the allocation for defense in the Union Budget 2026-27, NITI Aayog member VK Saraswat said that this means that now the country will manufacture weapons and equipment on a large scale for future war needs.
- He said that its objective is to increase self-reliance, ensure private sector participation, reduce costs and increase production rates, so that Indian products become competitive and affordable.
- Saraswat said that as per the experience gained from Operation Sindoor, budget allocation has been made according to the choice of weapons and their priority.
- He said that future wars will be non-contact wars and the technology required for it will be different.
Also read: India will reduce import of Russian oil, decision after mega deal with America?; Trump removed 25% tariff!
How much money allocated for defense sector in the budget?
Defense expenditure in the budget for 2026-27 has been kept at Rs 7.85 lakh crore, which was Rs 6.81 lakh crore last year. Of this, Rs 2,19,306 crore is for capital expenditure, which includes purchasing new weapons, aircraft, warships and other military equipment.
Asked about support for defense research and development (R&D) and defense startups, Saraswat said the Defense Ministry, Department of Science and Technology and Department of Biotechnology have created an innovation process for this. He said that this entire ecosystem is to promote startup culture. Startups are emerging rapidly because the central government policies are supporting them. Saraswat said that investors in startups (venture capitals) should give more financial support to defense startups, which is not enough right now.
