India on track to meet ₹50,000cr defense export target
What's the story
Samir V Kamat, the Chairman of the Defense Research and Development Organisation (DRDO), has expressed confidence that India will meet its defense export target of ₹50,000 crore by 2028-29. The ambitious goal was set by Defense Minister Rajnath Singh. Kamat's optimism comes from the growing global interest in Indian defense systems such as Pinaka, Advanced Towed Artillery Gun System (ATAGS), BrahMos missile system, and Akash air defense system.
International demand
Growing global demand for Indian defense systems
Kamat noted that countries from Southeast Asia, the Middle East, and Africa are showing a keen interest in Indian defense systems. This is a positive sign for India's exports in the defense sector. He further emphasized that the success of these systems during Operation Sindoor has contributed to this growing global demand.
Export growth
Defense exports expected to double in coming years
India's defense exports hit a record high of ₹23,622 crore in FY 2024-25, marking an increase of ₹2,539 crore or 12.04% from the previous fiscal year. Kamat expects these exports to double in the next two to three years due to the growing interest in Indian defense systems. The country's annual defense production also reached an all-time high of ₹150,590 crore during this period, representing an 18% increase over previous year's output and a whopping 90% jump since FY 2019-20.
Policy impact
Government initiatives to boost defense manufacturing
The government has launched several initiatives, including the production-linked incentive (PLI), to make Indian manufacturers globally competitive and reduce dependency on imports. Kamat highlighted these measures as a reflection of India's strength in defense R&D and production. He also assured that if systems are produced within the country, they will be acquired by the ministry for services.
Industrial growth
Defense Minister's remarks on India's strengthening defense industrial base
Defense Minister Rajnath Singh has praised the efforts of the Department of Defense Production and all stakeholders in achieving this milestone. He said it is a clear indication of India's strengthening defense industrial base. Public Sector Undertakings (PSUs) accounted for about 77% of total production, while the private sector contributed 23%.