India has set target of Rs 3 lakh cr in defence production by 2029, says Rajnath Singh

New Delhi: The of India’s defence production this year is expected to cross Rs 1.60 lakh crore and the target is to manufacture military hardware worth Rs 3 lakh crore by 2029, Defence minister Rajnath Singh said on Thursday.

India will reduce its dependency on imports and create a defence industrial eco-system that will not only meet the country’s needs but will also strengthen the potential of defence exports, he said.

Singh was speaking at the ‘Defence Conclave 2025 -- Force of the Future’ hosted by ‘The Week’ magazine.

“The day is not far when India will not only emerge as a developed country, but our military power will also emerge as the number one in the world,” he asserted.

“This year, defence production should cross Rs 1.60 lakh crore, while our target is to produce defence equipment worth Rs 3 lakh crore by the year 2029,” he said.

The defence minister said while India’s defence manufacturing capabilities are aimed at national security and strategic autonomy, they are also insulating manufacturing from global “supply shocks”.

“Our defence exports should reach Rs 30,000 crore this year and Rs 50,000 crore by the year 2029,” he announced.

Singh underlined that India’s growing defence capability is not meant to provoke conflict. “Our defence capabilities are like a credible deterrence, to maintain peace and tranquillity. Peace is possible only when we remain strong,” he added.

In his address, Singh laid out a compelling vision for a “self-reliant and future-ready” India in the defence sector with a focus on indigenisation, innovation, and global leadership.

The defence minister said India is not only securing its borders but also positioning itself as a key player in the international defence ecosystem.

Singh said that under the leadership of Prime Minister Narendra Modi, the “revival and strengthening” of the defence sector is one of the biggest priorities for the government.

The govt’s first and foremost challenge was to change the mindset that India would simply import to meet its defence needs, he recalled.