India's Defence Production Set to Reach Rs 3 Lakh Crore by 2029: Rajnath Singh
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Synopsis
Defence Minister Rajnath Singh announced India's goal of achieving defence production worth Rs 3 lakh crore by 2029, highlighting significant advancements in missile technology, submarines, and aircraft carriers. With a focus on self-reliance and increased exports, India aims to strengthen its position in the global defence market.
Key Takeaways
- Defence production target of Rs 3 lakh crore by 2029.
- Increased production from Rs 40,000 crore in 2014 to Rs 1.27 lakh crore.
- 75% of defence budget reserved for domestic procurement.
- Defence exports rose to Rs 23,622 crore expected to reach Rs 30,000 crore this year.
- ‘Make in India’ program enhancing global supply chain resilience.
New Delhi, April 17 (NationPress) Emphasizing India's ambition to achieve defence production worth Rs 3 lakh crore by 2029, Defence Minister Rajnath Singh stated on Thursday that the nation is now aligned with developed countries in vital sectors, including missile technology (Agni, BrahMos), submarines (INS Arihant), and aircraft carriers (INS Vikrant).
During a Defence Conclave, he shared his vision of a self-sufficient and future-oriented India, noting that defence production has escalated from Rs 40,000 crore in 2014 to over Rs 1.27 lakh crore.
“This year, we expect to surpass Rs 1.60 lakh crore in defence production, with a target of reaching Rs 3 lakh crore by 2029,” he added.
He emphasized that the government has allocated 75 percent of the defence budget for procurement from local firms.
Regarding defence exports, Rajnath Singh highlighted a remarkable increase from Rs 686 crore in 2013-14 to Rs 23,622 crore in 2024-25.
“Our defence products are being exported to approximately 100 countries. We aim to achieve Rs 30,000 crore in defence exports this year and Rs 50,000 crore by 2029,” he declared.
He stated, “With a strong emphasis on indigenization, innovation, and global leadership, India is not only safeguarding its borders but also positioning itself as a pivotal player in the international defence landscape.”
“The day is approaching when India will not only be a developed nation, but our military strength will also be recognized as the leading force globally,” he added.
The Defence Minister reaffirmed that under Prime Minister Narendra Modi, the revitalization and fortification of the defence sector remain top priorities for the government.
He indicated that the primary challenge is to shift the perspective that India must rely on imports for its defence needs.
“India is set to diminish its reliance on imports and develop a defence industrial complex that will cater to both domestic needs and enhance export capabilities,” he stressed.
“As India’s defence sector progresses towards self-reliance, it is also poised to significantly contribute to resilient global supply chains,” he stated.
The Defence Minister remarked that the ‘Make in India’ initiative is not only bolstering the nation's defence production but is also ensuring that the global defence supply chain remains robust and adaptable.
He pointed out that while India's defence manufacturing capabilities focus on national security and strategic autonomy, they also shield the sector from global supply disruptions.
Rajnath Singh stressed that India’s expanding defence capacity is not intended to instigate conflict. “Our defence capabilities serve as a credible deterrent, crucial for maintaining peace and stability. True peace is achievable only when we are strong,” he concluded.
