Defence Minister Rajnath Singh has said India aims to reach ₹3 lakh crore in annual defence production and ₹50,000 crore in defence exports by 2029.

Where India stands now

  • Defence production hit a record ₹1.78 lakh crore in 2025–26, up from ₹46,429 crore in 2014–15
  • Defence exports rose to ₹38,424 crore in 2025–26, up from about ₹686 crore in 2013–14
  • Indian defence products now reach more than 80 countries
  • The defence budget for 2026–27 is a record ₹7.85 lakh crore, including ₹2.19 lakh crore for capital expenditure and modernisation

What the minister said

Singh set out the targets on 3 November 2026, at the Delhi Defence Dialogue 2026 in New Delhi and at a Consultative Committee meeting of the Defence Ministry in Jaisalmer. He said self-reliance must mean technological sovereignty — India’s critical defence needs should not depend on foreign suppliers.

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