India has set an ambitious defence export target of ₹50,000 crore by 2028-29
In a significant announcement that marks a new era for India's defence sector, Defence Minister Rajnath Singh on Thursday (March 7, 2024) outlined the nation's evolving defence posture, which is not only more prepared than ever but also increasingly centered on indigenous development and self-reliance. Speaking at the NDTV Defence Summit, which saw a convergence of military experts, policymakers, and industry leaders, he spotlighted India's strategic pivot towards becoming a key player in the global defense market, with an ambitious export target of ₹50,000 crore by 2028-29.

India's defence strategy has undergone a profound transformation over the past decade, encapsulating a vision where indigenization and innovation lie at its core. "Our armed forces are equipped, capable, and stand ready to deter any threats, reinforcing our commitment to safeguarding our national interests," declared Singh, emphasizing the government's resolve in enhancing the country's military might.

The Defence Minister attributed this newfound strength and dynamism to the Narendra Modi government's dedication to infusing the defence sector with 'Indianness' - a philosophy that prioritizes indigenous technology and manufacturing. This approach has not only empowered the armed forces but also positioned India on the cusp of becoming a global defense exporter.

A Leap Towards Aatmanirbharta

Central to this transformation is the government's ambitious goal to achieve ₹50,000 crore in defence exports by 2028-29, a target that reflects India's growing prowess and confidence in its defense manufacturing capabilities. This goal complements the atmosphere of a significant uptick in defence production, which has soared from ₹40,000 crore in 2014 to a record ₹1.10 lakh crore today, with defence exports currently at ₹16,000 crore, a substantial increase from a mere ₹1,000 crore a decade ago.

Singh highlighted various initiatives undertaken to reach this target, including the establishment of Defense Industrial Corridors in Uttar Pradesh and Tamil Nadu, and the notification of positive indigenisation lists that reserve 75% of the capital procurement budget for the domestic industry. 

Additionally, the corporatisation of the Ordnance Factory Board and the introduction of innovation-focused programs such as Innovations for Defense Excellence (iDEX), iDEX Prime, ADITI, and the Technology Development Fund (TDF) exemplify the concerted efforts to boost indigenous defense technology and production.

Defence Minister Singh passionately argued for India's transition from a technology imitator to a creator, a shift that is critical for achieving the ambitious export targets. "Developing nations face a choice between innovation and imitation, and we are committed to establishing India as a technology creator," Singh said, critiquing the reliance on imported technology that inhibits self-reliance and diminishes national self-confidence.

This vision aligns with Prime Minister Modi's call to shed the 'follower mentality' and embrace a culture of innovation, thereby overcoming the legacy of dependency on foreign technology. The government's emphasis on innovation over imitation is not just a strategic choice but a declaration of India's intent to play a leading role in the global defense arena.

As India strides towards meeting its defense export target, the initiatives and policies laid out by the government lays a future where the defense sector not only protects national sovereignty but also contributes significantly to the global defense ecosystem. The Defence Minister's address at the summit showcased India's strategic advancements while highlighting the nation's journey towards becoming a defense manufacturing powerhouse, driven by innovation, indigenization, and an relentless commitment to self-reliance.