"India Aims for Defense Production & Export Surge: INR 3 Trillion Projection in Five Years"

India is set to significantly boost its defense production and exports over the next few years, according to Defense Minister Rajnath Singh. The country's defense production has already surpassed 1 trillion, with exports estimated at around 600 billion in 2023-24.
Singh announced plans for India's annual defense production to reach 3 trillion in the next four to five years, with exports expected to reach INR 500 billion. This growth will be supported by the domestic manufacturing of high-end systems like aero-engines and gas turbines.
India, once primarily an arms importer, is now focusing on becoming a major arms exporter under Prime Minister Narendra Modi's leadership. The government has allocated 6.21 trillion to the defense budget for 2024-25 and has granted in-principle approval to capital acquisition projects valued at over 4.35 trillion for the financial year 2023-24.
Singh emphasized the importance of long-term planning and self-reliance in defense production, highlighting initiatives such as the creation of Chief of Defence Staff and Department of Military Affairs to enhance coordination among the three services. The government is also promoting innovation in defense through start-ups and investing in futuristic technologies like artificial intelligence, quantum computing, and cyber warfare.
Overall, the government's focus on long-term gains and self-reliance aims to make India a major player in the global defense industry and a developed nation by 2047.