NEW DELHI, Nov 3: Defence Minister Rajnath Singh on Tuesday said India aims to achieve defence production worth Rs 3 lakh crore and exports worth Rs 50,000 crore by 2029, as the Government steps up efforts to modernise the armed forces and strengthen indigenous manufacturing.
Chairing a meeting of the Defence Ministry’s Consultative Committee on ‘Modernisation of Indian Defence Forces’ in Jaisalmer, Rajasthan, Singh held detailed discussions on emerging security challenges, changing warfare patterns, technological advancements and the need to build a future-ready military.
The discussions focused on the induction of next-generation platforms and weapons, greater coordination among the three Services, indigenous defence manufacturing, emerging technologies, research and innovation, and effective utilisation of resources.
Emphasising the need to prepare the armed forces for evolving security challenges, Singh outlined the Government’s initiatives in three key areas: budget and capital acquisition, self-reliance, technology and human resources.
He said the defence budget for 2026-27 had been increased to a record Rs 7.85 lakh crore, including a capital outlay of Rs 2.19 lakh crore for modernisation and procurement.
Highlighting the progress in indigenous defence production, Singh said domestic production had increased from Rs 46,429 crore in 2014-15 to a record Rs 1.78 lakh crore in 2025-26. Defence exports, which were below Rs 2,000 crore in 2014, had also grown to around Rs 40,000 crore.
“We aim to achieve defence production worth Rs 3 lakh crore and defence exports worth Rs 50,000 crore by 2029,” he said.
Singh also stressed the growing role of technology in modern warfare, highlighting the contribution of the Defence Research and Development Organisation (DRDO) in developing advanced weapons, missiles and systems.
He said the Government was providing a level playing field to the private sector, encouraging participation from micro, small and medium enterprises (MSMEs) to large companies in the defence ecosystem. He described the approach as a ‘whole-of-the-nation’ effort.
Underlining the importance of human resources, Singh said the strength of the armed forces depended not only on technology and financial resources but also on the capabilities and preparedness of their personnel.
He said the three Services had been continuously adapting their structures and formations to meet changing operational requirements. Referring to the Army’s new formations, including the ‘Asani’, ‘Bhairav’ and ‘Shaktiban’ platoons, he said they were proving effective in addressing contemporary battlefield challenges.
Singh said modernisation was not limited to the procurement of weapons and equipment but also involved improving operational preparedness, adopting advanced technologies and developing indigenous capabilities.
He stressed the need to strengthen research and development, promote domestic innovation and reduce dependence on foreign sources, saying strategic autonomy and indigenous technological capabilities were essential for national security.