New Delhi: Defence Minister Rajnath Singh today announced an ambitious target for India’s defence sector, aiming to achieve ₹3 lakh crore worth of defence manufacturing by the year 2029. Alongside this, the government is setting its sights on ₹50,000 crore in defence exports within the same timeframe.
Speaking at a Conference on Opportunities in Defence Manufacturing in New Delhi, Mr. Singh highlighted the exponential growth the sector has witnessed in recent years.
The Minister revealed that the country’s defence production has soared to a record high of more than ₹1.50 lakh crore. This figure represents a significant jump from the mere ₹46,000 crore recorded in 2014, showcasing a rapid trajectory of growth.
Furthermore, he noted that defence exports have also achieved a milestone, crossing ₹24,000 crore.
Singh stated that the nation’s self-reliance, or Atmanirbharta, in the defence sector has moved beyond mere policies and announcements, reaching a stage defined by “action, impact, and widespread acknowledgement.”
He credited the government’s comprehensive policy initiatives undertaken over the last ten years under the Atmanirbhar Bharat mission for promoting the indigenous design, development, and manufacturing of defence equipment.
The Defence Minister also stressed the government’s awareness of the “changing dynamics of modern warfare,” recognizing that contemporary battles are increasingly technology-driven.
In closing, Mr. Singh emphasized the critical importance of achieving a high degree of self-reliance in core defence capabilities as the nation moves forward with the larger goal of achieving Viksit Bharat (Developed India) by 2047.
