India’s Defence Procurement to Cross Rs 2 Lakh Crore: Rajnath Singh

Defence Minister Rajnath Singh has announced that India’s defence procurement is projected to exceed Rs 2 lakh crore in the current fiscal, with 75% of the defence budget allocated to domestic companies, reflecting the government’s ongoing push for self-reliance in the sector.

Addressing the Economic Times World Leaders Forum 2025, held under the theme “Defence, Diplomacy, and Deterrence: Shaping India’s Strategic Horizon,” Singh on Friday highlighted that the country’s defence budget currently stands at Rs 6.21 lakh crore and is expected to rise further following Operation Sindoor.

The minister emphasized the government’s focus on empowering Indian private players to compete with global defence giants, stating, “when you make in India, you make for the world.” He also encouraged foreign firms to invest in India’s defence ecosystem, assuring them of swift clearances and co-production opportunities.

Singh further reflected on India’s broader economic trajectory, noting that service exports have more than doubled over the past decade while inflation has eased. Citing economist Jagdish Bhagwati, he observed that India has moved from a nation once guided by the World Bank to one that now influences global economic thinking.

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