India's defense production is all geared to exceed Rs 1.60 lakh crore this year and aim for Rs 3 lakh crore by 2029, Defence Minister Rajnath Singh has stated.
Delivering a speech at the 'Defence Conclave 2025 – Force of the Future' organized by The Week magazine, Singh reiterated India's resolve to cut dependence on defence imports and develop a strong indigenous defense industrial base that not only serves national requirements but also increases defence exports.
Singh detailed that India plans to export defense equipment worth Rs 30,000 crore this year and Rs 50,000 crore by 2029. He emphasized that India's increasing defense capabilities are not intended to instigate conflict but to serve as a credible deterrent, maintaining peace and stability. "Peace is possible only when we remain strong," he said, highlighting the significance of national security and strategic autonomy.
The Defence Minister noted India's turn towards self-reliance in defense production through the government's 'Make in India' initiative. The initiative is not just boosting domestic defence production but also making global defence supply chains stronger, more flexible, and resilient.
Looking ahead to India's role in the global defense ecosystem, Singh said that India is poised to emerge as a central stakeholder in securing global supply chains and countering global security threats. The changing character of warfare, from rising threats in the cyber and space domains to the struggle over narratives, demands ongoing capacity building and defense reforms.
Singh also mentioned unprecedented reforms, like the corporatisation of India's more than 200-year-old Ordnance Factories, which he labeled as a "bold but right move." Shifting these factories into profit units is a step in the right direction by the government to reform and make defense sector more modern and efficient.
In addition, Singh emphasized the indigenization drive of India, with the issuance of five positive lists of indigenization by the Armed Forces and five by Defense Public Sector Undertakings (DPSUs). The lists cover a variety of military equipment, weapons systems, and platforms that will be manufactured within the country. He also referred to the government opting for the allocation of 75% of the defence budget for buying from indigenous companies, a move meant to further enhance the defense manufacturing prowess of India.
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