India Poised to Surpass Defence Export Milestone by 2029

Defence Secretary Rajesh Kumar Singh announced that India is set to exceed its Rs 50,000 crore defence export target by 2029, driven by public sector enterprises and growing global demand. He highlighted new financial mechanisms and geopolitical shifts fostering defence partnerships, especially with European nations.

At the ANI National Security Summit 2.0, Defence Secretary Rajesh Kumar Singh expressed strong confidence in India's ability to surpass its defence export target of Rs 50,000 crore by 2029, attributing the growth to robust demand and structural changes in the export ecosystem.

Singh emphasized the rise in global demand for conventional defence items due to ongoing conflicts, with significant interest emerging from Asian and African markets. This shift is largely propelled by India's public sector enterprises surging ahead in the export domain.

To bolster these efforts, the government is crafting a dedicated financial mechanism aimed at supporting exports. Additionally, evolving geopolitical landscapes are unlocking opportunities for deeper defence partnerships, notably with European countries seeking to leverage India's production capabilities amid demographic challenges.