Defence Minister Rajnath Singh has stated that the country’s defence exports are projected to rise to ₹50,000 crore by the financial year 2029–30. The announcement reaffirms the government’s commitment to transforming India into a leading defence manufacturing hub and self-reliant military power under the ‘Aatmanirbhar Bharat’ initiative.
Speaking at a key industry event, Singh highlighted the remarkable progress India has made in defence exports over the past few years. From a modest ₹1,521 crore in 2016–17, India’s defence exports surged past ₹21,000 crore in 2023–24—a near fourteen-fold increase in just seven years. He emphasized that this rapid growth is no longer just a projection, but a reality that reflects India’s evolving defence industrial ecosystem.
“We are moving ahead with confidence. By 2029–30, our defence exports will reach ₹50,000 crore. The world is recognizing the quality, reliability, and technological capabilities of Indian defence products,” Singh stated.
This ambitious target is not just a numerical goal but a part of a larger vision. The Ministry of Defence has been consistently encouraging domestic manufacturers—both public and private—to develop world-class systems that meet international standards. Defence Public Sector Undertakings (DPSUs), private defence firms, and start-ups have begun playing an increasingly crucial role in meeting global demand for arms, ammunition, surveillance systems, drones, and naval equipment.
A significant contributor to this growth has been the streamlining of policies and regulations around defence exports. The government has simplified export clearance procedures, provided greater autonomy to manufacturers, and actively facilitated defence diplomacy with friendly foreign nations. The creation of a dedicated Defence Export Promotion Cell, backed by consistent policy support, has enabled smoother coordination between industry players and the Ministry.
Singh also attributed the success to strong leadership and policy clarity. “Under Prime Minister Narendra Modi’s leadership, India is no longer satisfied with being the world’s largest arms importer. We want to be a major exporter, a contributor to global peace, and a self-reliant nation in defence manufacturing,” he said.
In the current global scenario, where geopolitical shifts are driving up defence procurement, Indian defence products are finding new buyers in Africa, Southeast Asia, the Middle East, and parts of Europe. Among the most exported items are offshore patrol vessels, radars, artillery systems, armoured protection vehicles, and personal protective equipment. Notably, India has also started exporting components for aircraft and missiles, reflecting the rising sophistication of its defence production.
Private sector firms such as Larsen & Toubro, Bharat Forge, Tata Advanced Systems, and Adani Defence have increasingly become export-oriented, securing contracts from foreign governments and original equipment manufacturers (OEMs). Indian start-ups in the defence tech space are also gaining attention for innovations in drone warfare, surveillance systems, and cyber defence.
Singh acknowledged that achieving the ₹50,000 crore target would not be without challenges. These include global competition, technology transfer limitations, and changing international regulations. However, he expressed confidence that India’s rapidly maturing defence production ecosystem is well-positioned to overcome these barriers.
He also emphasized the importance of research and development, urging academia, DRDO, and private innovators to deepen collaboration and bring out cutting-edge solutions tailored for global needs. “India must not just export arms, but also export ideas, innovation, and peacekeeping capabilities,” he said.
The government’s efforts to bolster domestic procurement—through import bans on certain defence items, incentives for indigenous design and development, and increased capital outlays—are creating a virtuous cycle where domestic production supports export growth.
As India marches forward with its defence modernization agenda, the target of ₹50,000 crore in exports by 2029–30 represents more than economic value—it symbolizes strategic independence, industrial strength, and growing global stature.
With a growing network of partnerships, expanding production capacity, and a sharpened focus on quality and innovation, India’s emergence as a key player in the global defence supply chain seems increasingly within reach.