Suryaa National Desk: Union Defense Minister Rajnath Singh stated that India aims to increase domestic defense production to Rs 3 lakh crore and defense exports to Rs 50,000 crore by the year 2029. The central government is implementing measures to achieve self-reliance in the defense sector and transform the country into a global manufacturing hub.
The Defense Minister emphasized the critical role of private sector participation, startups, and MSMEs in defense manufacturing. He noted that policy reforms and the Make in India initiative have significantly increased the domestic production of weapons and military equipment over the past few years. He stated that Indian companies are demonstrating capabilities in developing advanced defense systems using indigenous technology, thereby reducing dependence on foreign nations.
Rajnath Singh further mentioned that Indian defense products are gaining traction in the global market, with several friendly countries showing interest in purchasing equipment from India. He expressed confidence that this progress will generate employment opportunities and establish India as a global hub in the defense sector. The Ministry of Defense will provide support to achieve these targets within the specified timeframe.