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India eyeing annual defence production of Rs 3 lakh cr in FY29 | India News


By the financial year 2028-29, India’s annual defence production is expected to touch a whopping `3 lakh crore and export of military hardware is poised to reach Rs 50,000 crore, Defence Minister Rajnath Singh said Saturday, announcing that high-end systems like aero-engines and gas turbines will be produced within the country.

In an address at a defence conclave, Singh, delving into structural defence reforms, said the three services used to work in silos earlier but now they are ready with better coordination to deal with any challenge jointly.

“Earlier, the three services used to work in silos. We focused on their integration which was an out-of-the-box step and the need of the hour. It was a little difficult in the beginning; but today our military is ready with better coordination to deal with every challenge together,” he said at the Firstpost Defence Summit.

Singh said the government has been focusing on jointness among the Indian Army, the Navy and the Indian Air Force that would ensure enhanced coordination in times of “crisis”.

He said India’s annual defence production is expected to clock `3 lakh crore and defence exports `50,000 crore by 2028-29. According to latest data, the defence production has crossed `1 lakh crore mark while the defence exports in 2023-24 has been estimated at around `16,000 crore.

Festive offer

“Earlier, India was known to be an arms importer. But today, under the leadership of the prime minister, we have come out of our comfort zone and found a place in the list of top-25 arms exporter nations,” Singh said.

The defence minister added that `6.21 lakh crore was allocated to the defence budget for 2024-25. He said capital acquisition projects worth more than `4,35,000 crore have been given in-principle approval in the financial year 2023-24, and the government is now aiming for production of high-end systems like aero-engines and gas turbines in India in the next five years.

Singh said restrictions on import of arms was difficult in the short-term but the challenge is slowly turning into opportunity, and India is rising on the defence industrial landscape of the world.

“Today, our military is using weapons and platforms, which are manufactured on our own soil,” he said.





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