India Aims for ₹50,000 Crore Defence Exports

Union Defence Minister Rajnath Singh announced that India aims to achieve over Rs 50,000 crore in defence exports by the fiscal year 2029-30, highlighting the success of the Aatmanirbhar Bharat initiative. Speaking at IIT Kanpur's 65th Foundation Day, he urged young innovators to focus on developing high-end technologies domestically to lessen import dependency, in line with Prime Minister Modi's vision of a developed India. Singh noted a significant increase in defence exports from Rs 600 crore a decade ago to Rs 21,000 crore in FY 2023-24, and expressed optimism for continued growth. He emphasized the importance of technology in modern warfare and the need for indigenous development to overcome reliance on imports. Singh outlined government initiatives like iDEX and ADITI to support innovation and collaboration with academia and the private sector. He reaffirmed the commitment to achieving self-reliance in defence production, stating that collective efforts are essential for realizing this vision.