India's defence production to touch Rs 3 lakh crore by 2029: Rajnath Singh (Lead)

New Delhi, April 17 (IANS) Highlighting the country’s target to produce defence equipment worth Rs 3 lakh crore by the year 2029, Defence Minister Rajnath Singh said on Thursday that India today stands shoulder to shoulder with developed nations in critical areas such as missile technology (Agni, BrahMos), submarines (INS Arihant) and aircraft carriers (INS Vikrant).

Sharing his vision on a self-reliant and future-ready country at a Defence Conclave, the Defence Minister said the defence production in India has risen from Rs 40,000 crore in 2014 to over Rs 1.27 lakh crore.

“This year, defence production should cross Rs 1.60 lakh crore, while our target is to produce defence equipment worth Rs 3 lakh crore by the year 2029,” he added.

He also underlined the fact that the government has reserved 75 per cent of the defence budget for procurement from domestic companies.

On defence exports, Rajnath Singh underscored that the figures had surged from Rs 686 crore in 2013–14 to Rs 23,622 crore in 2024–25.

“Defence products made in our country are being exported to about 100 countries. Our defence exports should reach Rs 30,000 crore this year and Rs 50,000 crore by the year 2029,” he announced.

He said, “With a clear focus on indigenisation, innovation, and global leadership, India is not only securing its borders but also positioning itself as a key player in the international defence ecosystem.”

“The day is not far when India will not only emerge as a developed country, but our Military Power will also emerge as the number one in the world,” he added.

The Defence Minister reiterated that under the leadership of Prime Minister Narendra Modi, the revival and strengthening of the defence sector is one of the biggest priorities for the government.

He stated that the government’s first and foremost challenge was to change the mindset that India would simply import to meet its defence needs.

“India will reduce its dependence on imports and create a defence industrial complex that will not only meet India’s needs but will also strengthen the potential of defence exports,” he emphasised.

“Today, while India's defence sector is moving ahead on the path of self-reliance, it is also ready to play a very important role in making global supply chains resilient,” he said.

The Defence Minister added that the ‘Make in India’ programme is not only strengthening the country's defence production but also helping the country make the global defence supply chain resilient and flexible.

He stated that while India's defence manufacturing capabilities are aimed at national security and strategic autonomy, they are also insulating manufacturing from global supply shocks.

Rajnath Singh underlined that India’s growing defence capability is not meant to provoke conflict. “Our defence capabilities are like a credible deterrence, to maintain peace and tranquillity. Peace is possible only when we remain strong,” he added.

--IANS

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