India Targets ₹3 Lakh Crore Defence Production And ₹50,000 Crore Exports By 2029

India is stepping up efforts to build a stronger and more self-reliant defence industrial base, with Defence Minister Rajnath Singh reaffirming the government's commitment to reducing dependence on foreign suppliers while strengthening national security through indigenous capabilities.
Speaking at a meeting of the Consultative Committee of the defence ministry in Jaisalmer on Tuesday, Singh said strategic autonomy and home-grown technological expertise are critical for protecting the country's security interests in an increasingly complex global environment.
“Strategic autonomy and indigenous technological capabilities are essential to safeguarding national security,” he said.
The meeting featured extensive discussions on emerging security threats, changing warfare concepts, rapid technological developments and the need to create a future-ready military that is technologically advanced, operationally agile and capable of responding to modern challenges.
Key areas identified during the deliberations included faster induction of next-generation military platforms and weapon systems, deeper tri-service integration, enhanced joint operational planning and improved coordination in the application of military capabilities.
Singh stressed that the armed forces must remain prepared for evolving threats and highlighted measures taken by the government across areas such as budget allocation, capital acquisition, technology development and human resource enhancement to meet the demands of modern warfare.
He underlined the importance of sustained financial support for military modernisation, noting that adequate funding must be matched by efficient utilisation and careful prioritisation of critical requirements across the services.
According to the minister, the defence budget for the 2026-27 financial year has been increased to a record ₹7.85 lakh crore, including a capital outlay of ₹2.19 lakh crore aimed at strengthening military capabilities and accelerating modernisation.
Highlighting progress towards self-reliance, Singh said defence production has risen sharply from ₹46,429 crore in 2014-15 to a record ₹1.78 lakh crore in 2025-26, reflecting the rapid expansion of India's domestic defence manufacturing ecosystem.
He added that defence exports have grown from less than ₹2,000 crore in 2014 to about ₹40,000 crore, demonstrating rising international acceptance of Indian-made defence equipment.
“We aim to achieve defence production worth ₹3 lakh crore and defence exports worth ₹50,000 crore by 2029,” Singh said.
The minister emphasised that technology is increasingly shaping the nature of warfare, making innovation and advanced capabilities indispensable for maintaining military effectiveness in future conflicts.
At the same time, he noted that military strength is not determined solely by technology or financial resources. The capability, training and preparedness of personnel remain equally important to operational success.
“The rapidly evolving nature of warfare necessitates that our defence forces remain aligned with the changing requirements of modern warfare. Keeping this in mind, all three services have continuously refined their structures and formations,” he said.
Singh highlighted the Indian Army's recently developed formations, including the ‘Asani’, ‘Bhairav’ and ‘Shaktiban’ platoons, stating that they are proving highly effective in addressing contemporary operational requirements and adapting to changing battlefield conditions.
He reiterated that military modernisation is an ongoing process requiring sustained investment and continuous adaptation to emerging technologies, evolving security concerns and changing operational demands.
The minister also stressed the importance of developing long-term capabilities that will ensure the armed forces remain operationally effective while advancing the country's goal of greater self-reliance in defence.
The meeting concluded with a strong emphasis on converting policy objectives into measurable outcomes through a structured and phased modernisation strategy. The broader objective is to build a military capable of responding effectively to conventional, sub-conventional and multi-domain security challenges while supporting India's ambition to emerge as a major global defence manufacturing and export hub.
PTI
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