Brasilia [Brazil], March 25 (ANI): Brazil Vice President and Development Minister Geraldo Alckmin has underscored the importance of strengthening the country's defence industry, stating it can drive growth across multiple strategic sectors of the economy.

Alckmin made the statement on Monday during the launch of the Defence Industrial Base (BID) Product Catalogue at the Ministry of Defence headquarters in Brasilia. The catalogue features 364 products from 154 companies and is aimed at expanding market access, encouraging innovation, and strengthening Brazil's industrial base.

Highlighting the broader impact of the sector, Alckmin said the defence industry extends beyond military applications and plays a key role in technological advancement. He noted that expanding this sector could benefit areas such as healthcare, agriculture, and scientific research, contributing to overall economic development, as reported by Brasil 247.

Emphasising its strategic value, Alckmin described a robust defence industry as 'a life insurance policy for the nation and an engine for the New Industry Brazil'. His remarks align with the government's New Industry Brazil (NIB), which focuses on revitalising the country's manufacturing capacity through innovation, sustainability, and value creation.

Under this policy framework, the defence sector is viewed as a critical pillar capable of generating skilled employment, strengthening supply chains, and enhancing Brazil's competitiveness in global markets.

The government is also relying on key institutions such as BNDES, Finep, and Embrapii to provide financial support and incentives for research and development.

Officials believe that bolstering the defence industry will not only enhance national sovereignty but also act as a catalyst for broader economic transformation, linking technological innovation with industrial growth and long-term development. (ANI)