“By 2029, India has set a target of producing defence equipment worth Rs. 3 lakh crore and exporting them worth Rs. 50,000 crore,” said Defence Minister Rajnath Singh.
Speaking at the Defence Ministry’s consultative committee meeting held in Jaisalmer, Rajasthan, Rajnath Singh said: As part of efforts to reduce dependence on foreign resources for the country’s defence needs, the Central government is taking vigorous steps to promote domestic defence equipment production.
To ensure the nation’s security, autonomy in key sectors including defense, and fully domestically developed technological capabilities are essential. In addition, in today’s environment where modern technology-based warfare is emerging, the defense forces must enhance their capabilities to meet all kinds of emergency challenges.
The Central Government has been continuously focusing on providing adequate financial support to meet the needs arising from the modernization of the armed forces. In the budget for the 2026-27 financial year, the Central Government has increased the allocation for the defence sector to a record Rs. 7.85 lakh crore, including capital expenditure of Rs. 2.19 lakh crore.
Due to the efforts of the long-term plan to achieve self-reliance in the defense sector, defense equipment production, which stood at Rs. 46,429 crore in 2014-15, has increased to Rs. 1.78 lakh crore in 2025-26. Similarly, defense equipment exports, which were Rs. 2,000 crore in 2014-15, increased to Rs. 40,000 crore in 2025-26.
The target has been set to raise defense equipment production to a value of Rs. 3 lakh crore and exports to Rs. 50,000 crore by 2029.
In line with the changing modern methods of warfare, the three armed forces continue to improve their structure and capabilities. He said that the Indian Army’s new units such as ‘Asani’, ‘Bhairav’, and ‘Shaktiban’ have demonstrated their capabilities in meeting current operational needs and adapting to the changing environment of the battlefield.
Technological Readiness
Rajnath Singh also noted that ‘in the 21st century, the military and technological readiness cannot be separated’.
He made this remark while participating in a defense-related discussion event held in Delhi. Speaking further, he said, “The distinction between conventional and unconventional methods of warfare is continuing to blur. Therefore, technology is extremely important in warfare. In the 21st century, military preparedness cannot be separated from technological preparedness.
Furthermore, self-reliant India should be understood as an aspect of technological sovereignty. Its meaning is not that we must produce everything ourselves; rather, it is to ensure that our critical security needs are not held hostage to external dependencies,’ he noted.