According to a bold forecast made by India’s defence minister, Rajnath Singh, the nation’s defence exports are anticipated to exceed ₹50,000 crore by the fiscal year 2029–2030.
Speaking at a public gathering in Chhatrapati Sambhaji Nagar, Maharashtra, Singh emphasised the impressive rise in India’s defence exports, which had increased fortyfold under the present government, from a mere ₹600 crore in 2014 to over ₹24,000 crore in 2024.
He highlighted that the government’s strategic focus on self-reliance in defence manufacturing and the development of a strong, domestic, future-ready defence ecosystem is reflected in this goal, which is not just aspirational but a firm commitment.
Singh credited this development to a number of legislative measures and reforms meant to lessen India’s reliance on imported weapons and to develop its own capabilities. These initiatives are a part of the larger “Atmanirbhar Bharat” (self-reliant India) program, which aims to promote domestic production and development of cutting-edge defensive technologies.
In order to contribute to the goal of a developed India (or “Viksit Bharat”) by 2047, the defence minister urged Indian youngsters, particularly those enrolled in prestigious universities like IIT Kanpur, to create and develop high-end technologies that India now buys.
Singh also mentioned the shifting global environment in his speech, pointing out how trade restrictions, tariff conflicts, and the weaknesses of global supply networks have highlighted the need for self-sufficiency in vital areas like military.
He emphasised that in order for India’s armed forces to be prepared for the future, a robust domestic industrial base that can manufacture advanced equipment like drones, cyberwarfare tools, precision-guided bombs, and hypersonic missiles is necessary.
A statue of Maharana Pratap, who represents India’s long history of defiance and independence, was unveiled during the announcement.
In keeping with the government’s larger initiative to draw in investment and strengthen manufacturing capabilities, Maharashtra Chief Minister Devendra Fadnavis also highlighted the region’s expanding industrial potential during the event.
Over the past ten years, India’s defence exports have grown at an unprecedented rate, and the government’s ambitious goal of ₹50,000 crore by 2029–2030 shows its dedication to making India a significant global defence exporter.
Policy changes, technological advancements, and a deliberate focus on independence all contribute to this trajectory, which positions India as a major player in the global defence industry.
