Defence production to touch Rs 3 lakh crore by 2028-29: Rajnath Singh

Defence production to touch Rs 3 lakh crore by 2028-29: Rajnath Singh

NEW DELHI: India’s annual defence production is expected to touch Rs 3 lakh crore by 2028-29, along with arms exports of Rs 50,000 crore, defence minister Rajnath Singh said on Saturday, stressing that Modi govt is focusing on “long-term gains” and “not short-term outcomes” in all sectors to make the country a developed one by 2047.

Singh said the country had emerged as a weapons exporter and found a place in top-25 such countries. “Seven-eight years ago, defence exports did not even touch Rs 1,000 crore. Today, it has touched Rs 16,000 crore,” he said, at a defence conclave.

“Radical changes” have been made in defence production sector for long-term gains to ensure India achieves PM’s goal of ‘Aatmanirbhar Bharat’, Singh said, adding that annual domestic defence production has now crossed Rs 1 lakh crore.

Progressive bans on imports of different weapon systems, platforms and munitions have posed “short-term difficulties”, but also helped strengthen domestic defence-industrial base. “Today, our military is increasingly using weapons and platforms manufactured on our own soil,” he said.

There were apprehensions that weapons developed indigenously will not be “world-class” but govt believes in capabilities of domestic industry, which can consistently improve and deliver state-of-the-art products. The aim is to manufacture high-end systems like aero-engines and gas turbines in India in coming five years, he said.

The defence ministry has been allocated Rs 6.2 lakh crore in the 2024-25 budget, highest among all ministries, while capital acquisitions over Rs 4.3 lakh crore have been given in-principal approval in the ongoing fiscal. The defense budget was increased in view of current changing circumstances in geopolitical scenario along with deepening challenges on the borders. “These decisions reflect govt’s long-term approach towards national security,” he said.

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