Singh highlighted that adequate financial resources, coupled with effective utilisation and prioritisation of critical needs of the Services, are essential to strengthe…
**Defence Production Targets Set For 2029**
Defence Minister Rajnath Singh has outlined India's ambition to reach defence production valued at ₹3 lakh crore and defence exports of ₹50,000 crore by 2029. He shared these targets during a meeting of the parliamentary Consultative Committee of the Ministry of Defence, held in Jaisalmer, Rajasthan, where the focus was the modernisation of the Indian Defence Forces. Singh compared the current position with earlier figures, noting that defence production has climbed from ₹46,429 crore in FY 2014-15 to a record ₹1.78 lakh crore in FY 2025-26. Defence exports, which were below ₹2,000 crore in 2014, have grown to roughly ₹40,000 crore.
**Why This Matters For Industry**
For companies operating in or supplying the defence sector, the stated trajectory signals a continued policy push toward indigenous capability. Singh framed the government's efforts around three areas: budget and capital acquisition with self-reliance, technology, and human capital. He stressed that sufficient financial resources, combined with efficient use and prioritisation of the Services' critical needs, are necessary for strengthening military capabilities. At the Delhi Defence Dialogue, organised by the Manohar Parrikar Institute for Defence Studies and Analyses, he called for widening defence exports beyond hardware to include maintenance, repair, training, logistics and technology cooperation. He also said each successful export should serve as the basis of a long-term strategic partnership, and that the domestic industry must raise manufacturing capacity, improve quality and build global competitiveness to meet the 2029 goals.
**Reforms, R&D And Collaboration**
Singh described reforms, Aatmanirbharta, collaborations and exports as connected elements of India's goal of becoming Viksit Bharat by 2047. In his view, reforms should create an enabling institutional environment, self-reliance should strengthen indigenous technological capabilities, coll…
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