India Eyes Rs 50,000 Cr in Defence Exports by 2029, Says Rajnath Singh

Defence Minister Rajnath Singh said India’s defence production is set to exceed ₹1.6 lakh crore this year, as the government charts a bold roadmap to position the country as a global defence manufacturing hub.

Speaking at Defence Conclave 2025 – Force of the Future, Singh emphasised self-reliance, innovation, and strategic transformation as the pillars of the new defence vision.

“This year, defence production should cross ₹1.60 lakh crore, while our target is ₹3 lakh crore by 2029,” Singh said, adding that the transformation is not just numerical but strategic, aimed at reducing foreign dependence and creating a robust military-industrial base.

Defence exports are also expected to see a significant jump. The government projects exports worth ₹30,000 crore this year, and ₹50,000 crore by 2029. Singh said India’s growing military strength is meant for “credible deterrence” and peace, not confrontation. “Peace is only possible when we remain strong,” he asserted.

The minister highlighted key reforms, including the restructuring of the 200-year-old Ordnance Factory Board, now functioning as profitable entities. “Changing such a legacy structure is one of the biggest reforms of the century,” he said.

Singh also detailed the indigenisation effort through five positive lists issued by the Armed Forces and DPSUs. These lists, covering 509 defence platforms and 5,012 DPSU items respectively, mandate domestic production under a phased plan.

In a major policy shift, 75% of the capital procurement budget has been earmarked for Indian companies, strengthening the ‘Make in India’ push in defence.

Singh warned of an increasingly unpredictable and multi-dimensional battlefield, highlighting the rise of cyber, space, and narrative warfare. To counter these, he said the government’s approach includes long-term capacity building and continuous reform.

He credited Prime Minister Narendra Modi’s leadership for ushering in a mindset shift—“from being a buyer to becoming a producer.” He concluded by reiterating the government’s resolve to make India a developed nation with a globally respected military.

Also Read: India’s Defence Exports Reach Record ₹23,622 Crore in 2024-25: Rajnath Singh