Defence Minister Rajnath Singh has announced a bold projection for India’s defence sector, stating that the country’s defence exports are expected to reach ₹50,000 crore by the financial year 2029-30. 

Speaking at a public event in Chhatrapati Sambhaji Nagar, Maharashtra, Singh highlighted the remarkable growth in India’s defence exports, which have surged from just ₹600 crore in 2014 to approximately ₹24,000 crore in 2024—a forty-fold increase during the current government’s tenure.

He emphasised that this target is not merely aspirational but a firm commitment, reflecting the government’s strategic focus on self-reliance in defence production and the creation of a robust, indigenous, future-ready defence ecosystem.

Singh attributed this progress to a series of policy initiatives and reforms aimed at reducing India’s dependence on foreign arms imports and fostering domestic capabilities. These efforts are part of the broader ‘Atmanirbhar Bharat’ (self-reliant India) campaign, which seeks to encourage the development and manufacturing of advanced defence technologies within the country.

The Defence Minister called upon Indian youth, especially those in premier institutions like IIT Kanpur, to innovate and develop high-end technologies that India currently imports, thereby contributing to the vision of a developed India (‘Viksit Bharat’) by 2047.

In his address, Singh also noted the changing global landscape, where trade restrictions, tariff wars, and the vulnerabilities of global supply chains have underscored the necessity for self-sufficiency in critical sectors like defence.

He stressed that India’s armed forces must be equipped for the future, and this requires a strong indigenous industrial base capable of producing cutting-edge systems such as drones, cyber warfare tools, precision-guided munitions, and hypersonic missiles.

The announcement was made during the unveiling of a statue of Maharana Pratap, symbolizing India’s historical spirit of resistance and self-reliance.

The event also saw Maharashtra Chief Minister Devendra Fadnavis highlighting the region’s growing industrial potential, which aligns with the government’s broader push to attract investment and bolster manufacturing capabilities.

India’s defence exports have experienced unprecedented growth over the past decade, and the government’s ambitious target of ₹50,000 crore by 2029-30 underscores its commitment to transforming India into a major global defence exporter.

This trajectory is supported by a combination of policy reforms, technological innovation, and a strategic emphasis on self-reliance, positioning India as a rising force in the international defence market.

ANI