On Thursday, Defence Minister Rajnath Singh stated that India intends to export defence equipment worth Rs 40,000 crore by 2026. Rajnath stated at a conclave here that domestic defence production has increased significantly in recent years. We not only meet our own needs, but we also export weapons and equipment to other countries. Defence exports have skyrocketed from Rs 900 crore 7-8 years ago to near Rs 14,000 crore in the current fiscal year. By 2026, our goal is to export defence equipment worth Rs 40,000 crore, he said.
The defence minister attributed this to the government’s bold approach and unwavering resolve, which has resulted in secure borders and a battle-ready Armed Forces supported by a self-sufficient defence industry. National security is the government’s top priority, according to as part of the government’s relentless efforts to achieve self-reliance in defence, Rajnath listed notification of positive indigenisation lists; earmarking of record 75% of defence capital procurement budget for domestic industry in Financial Year 2023-24 and efforts to provide local companies access to international market.
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