By 2026, India aims for defence export worth Rs 40,000 crore: Defence Minister

India is aiming to export defence equipment worth Rs 40,000 crore by 2026, said Defence Minister Rajnath Singh.

While addressing a conclave, he said that in the last few years there has been an increase of domestic defence production. We are not only catering to our own needs, but are also exporting weapons & equipment to other countries. From Rs 900 crore 7-8 years ago, defence exports have skyrocketed and are nearing Rs 14,000 crore in the current financial year. Our target is to export defence equipment worth Rs 40,000 crore by 2026,” he said.

For this, the defence minister credited the bold approach and unwavering resolve of the government, which has ensured secured borders and a battle-ready Armed Forces backed by a self-reliant defence industry.

He highlighted that national security is the government’s top priority and listed “notification of positive indigenisation lists; earmarking of record 75 per cent of defence capital procurement budget for domestic industry in Financial Year 2023-24 and efforts to provide local companies access to international market” as part of the government’s relentless efforts to attain self-reliance in defence.

He further said that India has steered the world on issues like terrorism and has achieved success in garnering support to eliminate the menace.

Mentioning the surgical strikes, he stated that the move broke the back of terrorists and sent a strong message to the world that India will eliminate terrorism on its own soil, and if need be, on foreign land as well.

“Whether it was the stand-off with China or ill-intentions from Pakistan, our forces have been giving a befitting reply, whenever required,” said Rajnath.