Defence Minister Rajnath Singh has announced that India's defence exports are on a trajectory to reach approximately ₹29,000 Crores by April 2026. Speaking at the "Sagar Sankalp" maritime dialogue in Kolkata, the Minister highlighted a significant surge in domestic production, which has already surpassed a record ₹1.50 lakh Crores in the current financial year.

This growth is part of a broader strategic roadmap aiming for export figures to hit ₹50,000 Crores by the 2029-2030 period.

The Minister emphasised that self-reliance, or Atmanirbharta, is no longer merely a conceptual slogan but a practical necessity in an era of global volatility. He pointed to the shifting geopolitical landscape in the Middle East and the vulnerabilities of the Strait of Hormuz as primary examples of why India must secure its own supply chains. This "abnormality" in global trade and energy security has become the new normal, necessitating a domestic industrial base that is both resilient and technologically advanced.

A pivotal shift in the nation’s manufacturing philosophy is the increasing role of the private sector. Currently, private enterprises contribute about 25 per cent of the country's defence platforms and equipment.

The government intends to see this figure double, aiming for the private sector to command a 50 per cent share of total production value in the coming years. This is being facilitated by opening DRDO labs to private firms and establishing dedicated defence corridors.

The shipbuilding sector was singled out as a primary engine of this transformation. All warships and submarines currently on order for the Indian Navy are being constructed within Indian shipyards.

The Minister described the transition from a "Buyer’s Navy" to a "Builder’s Navy" as a definitive reality. Shipyards like Garden Reach Shipbuilders & Engineers (GRSE) are being evolved into technology hubs rather than just assembly lines, utilising digital design tools and modular construction.

Furthermore, the government has laid out a long-term vision under the Maritime Amrit Kaal 2047, which includes planned investments of approximately ₹3 lakh Crores. The objective is to position India among the top ten shipbuilding nations by 2030 and within the top five by 2047.

This includes the development of world-class shipbuilding clusters and the integration of MSMEs and start-ups into the broader "conglomerate effect" of naval production.

The Minister asserted that India's maritime safety and economic prosperity are intrinsically linked to coordinated technological adoption.

By fostering a synergy between Defence Public Sector Undertakings (DPSUs) and indigenous vendors, India aims to not only safeguard its own interests but also become a key contributor to global maritime stability.

The ongoing reforms in FDI norms and the promotion of Public-Private Partnerships remain the cornerstones of this industrial expansion.

ANI