India’s Defence Exports To Touch ₹ 50,000 Crore In 2029-30: Rajnath Singh

Rajnath Singh said that the government’s efforts to achieve self-reliance are turning out to be highly successful as defence exports, which were around just ₹ 600 crore 10 years ago, crossed a record number of ₹ 21,000 crore in Financial Year 2023-24.

Defence Minister Rajnath Singh on Saturday said that India’s Aatmanirbhar drive was “yielding the desired results” and the country was poised to reach ₹ 50,000 crore in defence exports by 2029-30.
Addressing the 65th Foundation Day celebrations at the Indian Institute of Technology (IIT), Kanpur, the Defence Minister called upon Indian youth to indigenously develop high-end technologies, which the country imports, to realise Prime Minister Narendra Modi’s vision of ‘Viksit Bharat’.

He stressed on the need to get a hold on high-end technology, urging the young ignited minds to realise their potential and contribute to the country’s progress. He termed institutions like IIT Kanpur as academic engines, which can provide a dynamism to India in the present competitive environment.

Rajnath Singh said that the government’s efforts to achieve self-reliance are turning out to be highly successful as defence exports, which were around just ₹ 600 crore 10 years ago, crossed a record number of ₹ 21,000 crore in Financial Year 2023-24. He exuded confidence that the progress will continue and defence exports will reach ₹ 50,000 crore by 2029-30.

Highlighting the increasing role of technology in the defence ecosystem across the globe amidst ongoing conflicts, the Defence Minister said that the use of drones, laser warfare, cyber warfare, precision guided missiles and hypersonic missiles has transformed warfare into a technology-oriented one.

“The biggest hurdle in achieving ‘Aatmanirbharta’ in defence is that we are compelled to import some high-end technologies necessary for our items. There is a need to focus on the defence application of modern cutting-edge technologies in view of the changing nature of warfare,” he added.

Rajnath Singh assured the government’s full support in this endeavour and reiterated the commitment to take all stakeholders, including the private sector and academia, together to make India self-reliant in defence.

“India has dreamed of becoming a developed nation by 2047 on the strength of our youth. We must put in all our power to realise that dream. There is a proverb, ‘If you want to go fast, go alone. If you want to go far, go together’. We need to walk together to achieve our target,” he said.

Enumerating the steps taken by the government to promote self-reliance and innovation in defence, Rajnath Singh spoke about the Innovations for Defence Excellence (iDEX) initiative which provides a grant of ₹ 1.5 crore to innovators and start-ups.

He added that Acing Development of Innovative Technologies with iDEX (ADITI) scheme was launched to promote innovations in critical and strategic defence technologies, wherein start-ups are eligible to receive grant-in-aid of up to ₹ 25 crore for their research, development, and innovation endeavours in defence technology.

The Defence Minister pointed out that manufacturing of a technology involves three major steps – ideation, application & production – and institutions like IIT Kanpur can play a big role from incubating ideas to creation of products. He underscored the importance of coming out with products and technologies, which become a necessity for the Armed Forces once they are developed.

As part of the celebrations, IIT Kanpur hosted a special event on defence innovation, aligning with the vision of ‘Aatmanirbhar Bharat’.

Rajnath Singh visited a Defence Research, Product, and Incubation Showcase organised by the Start-up Incubation and Innovation Centre (SIIC) at IIT Kanpur, which highlighted pioneering solutions from 23 SIIC-incubated start-ups, presenting advancements in defence technology such as autonomous systems, AI-driven surveillance, and next-generation communication tools.

Source : https://www.ndtv.com/india-news/indias-defence-exports-to-touch-rs-50-000-crore-in-2029-30-rajnath-singh-6929922

Exit mobile version