HomeAatmanirbhar BharatDefence minister Rajnath Singh Sets ₹50k-cr military export target

Defence minister Rajnath Singh Sets ₹50k-cr military export target

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New Delhi: On resuming charge as defence minister, Rajnath Singh has set a target to generate military exports worth Rs 50,000 crore on an annual basis and has vowed to fast-track initiatives under ‘Make in India‘ for defence production.

In the coming weeks, the minister will chair review meetings for major defence production initiatives and flagship schemes designed to promote indigenous research and development.

Defence exports had touched a record ₹21,083 crore in financial year 2023-24. It was historic. Our target will be to export over ₹50,000 crore worth of defence equipment by 2028-2029,” Singh said.

Sources said that several major military exports to nations like the Philippines, Vietnam and Armenia were in the pipeline and could be inked in the coming months. The ministry is also planning to set up a new defence export promotion agency that will focus on arms sales abroad. In the recent past, India has exported 155 mm artillery guns, Brahmos missiles, Multi Barrel Rocket Launchers and a range of ammunition to friendly foreign nations.

The minister also said that one of his priority areas would be to equip the armed forces with state-of-the-art weapons and platforms to ensure they are ready to face every challenge.

“Our aim will be to further strengthen the security apparatus of the country, with focus on achieving self-reliance in defence manufacturing. Armed Forces modernisation and the welfare of the soldiers, both serving and retired, will continue to be our main focus,” he said.Immediately after taking charge, the minister held a review meeting for the first 100 days’ Action Plan of the ministry under the new government. Officials said that the meeting focused on the welfare of veterans and issues pertaining to the Department of Ex-Servicemen Welfare were discussed.Given the growing importance of the Indian Ocean Region in the defence calculus, the minister has also decided that his first visit in this tenure will be to the Eastern Naval Command, Visakhapatnam, where he will interact with officers and sailors.

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