From ₹600 Cr to ₹50K Cr: India’s Defence Export Ambition Soars

India's defence exports have increased 40 times since ₹600 crore in 2014 to ₹24,000 crore today and set a target of ₹50,000 crore by 2029-30, Defence Minister Rajnath Singh said. The list of proscribed imports to encourage domestic production is also part of the government's campaign for self-reliance coupled with plan to double defence output to ₹3 lakh crore.

 

Singh highlighted Chhatrapati Sambhajinagar as an upcoming defence hub, seeking industry pitches to capitalize on its developed ecosystem. Defence exports are leading aircraft carriers, submarines, and missile systems, while demand in the global marketplace grows for India's cost-effective, state-of-the-art tech.

 

Policy liberalizations like Defence Acquisition Procedure (DAP) and enhanced FDI limits are powering expansion. Indigenous R&D focus aims at transforming India as a top-ranked global exporter by 2030

 

Source: PIB, Moneycontrol, Economic Times