India Sets Ambitious ₹50,000 Crore Defence Export Target by 2029: Rajnath Singh

India has set a bold target of reaching ₹50,000 Crores in defence exports by 2029, marking a significant step in its journey toward self-reliance in the defence sector. Defence Minister Rajnath Singh recently announced this ambitious goal, highlighting the country’s remarkable progress in defence manufacturing and exports.

Over the past decade, India's defence exports have surged from a modest ₹2,000 Crores to over ₹21,000 Crores, with the financial year 2023-24 alone witnessing a record-breaking ₹23,000 Crores in exports. This growth reflects India’s increasing prominence in the global defence market and its ability to produce high-quality, indigenous military equipment.

A major contributor to this success is India’s strong push for self-sufficiency in defence production. The country has already achieved 88% self-reliance in ammunition manufacturing and is supplying Made-in-India defence equipment to nations such as the Philippines, Vietnam, and Armenia. This expansion into global markets aligns with India's broader strategy to establish itself as a key player in international defence trade.

To further drive exports, India is investing heavily in cutting-edge technologies like Artificial Intelligence (AI), machine learning, and cyber warfare capabilities. Defence Minister Rajnath Singh stressed the need for mastering these frontier technologies, which are shaping modern warfare beyond traditional battlefields. As warfare increasingly involves cyber threats and AI-driven strategies, India is positioning itself to be at the forefront of this evolving landscape.

The government has also taken several policy initiatives to support defence manufacturing and exports. The establishment of Defence Industrial Corridors and the introduction of Positive Indigenisation Lists are designed to enhance indigenous production and reduce dependency on foreign imports. These efforts, coupled with public-private sector collaboration, are expected to drive India's defence exports to new heights.

Rajnath Singh also emphasized the crucial role of research institutions like the Indian Institutes of Technology (IITs) in fostering innovation in defence technology. By integrating academia, industry, and government efforts, India aims to create a robust ecosystem that not only meets its own security needs but also contributes significantly to global defence markets.

With this ambitious export target, India is not only strengthening its defence industry but also reinforcing its strategic position on the world stage. If the current trajectory continues, India is well on its way to becoming one of the top defence exporters globally by the end of the decade.