SOURCE: AFI
India’s defense sector is poised for a significant expansion as the government unveils ambitious targets aimed at bolstering domestic production and increasing exports in the coming years. With a focus on enhancing self-reliance and promoting indigenous manufacturing, these targets underscore India’s commitment to strengthening its defense industrial base and positioning itself as a major player in the global arms market.
The government’s roadmap for the defense sector outlines a series of ambitious goals to be achieved by 2028-29. Chief among these is the aim to increase India’s annual defense production nearly threefold, reaching Rs 3 lakh crore. This substantial increase reflects the government’s determination to ramp up domestic manufacturing capabilities and reduce reliance on imports for critical defense equipment.
In tandem with the goal of boosting defense production, the government has set an equally ambitious target for defense exports. By 2028-29, India aims to more than double its defense exports, reaching Rs 50,000 crore compared to the current Rs 21,083 crore. This expansion of export capabilities not only enhances India’s economic prospects but also strengthens its strategic partnerships with countries seeking high-quality defense equipment.
For the fiscal year 2024-25, the government has set interim targets to chart the course towards achieving these long-term objectives. The goal for this fiscal year is to achieve a total annual defense production worth Rs 1,75,000 crore, including exports valued at Rs 35,000 crore. This milestone represents a significant leap forward in India’s defense manufacturing capabilities and underscores the government’s commitment to driving growth in this critical sector.
To realize these ambitious targets, the government has identified several key areas for intervention and investment. These include incentivizing domestic defense manufacturing, streamlining regulatory processes, fostering innovation and research, and promoting collaboration between the public and private sectors. By creating an enabling environment for defense production, the government aims to unleash the full potential of India’s defense industry and propel it towards global competitiveness.
One of the cornerstones of the government’s strategy is the promotion of indigenous defense manufacturing through initiatives such as the Make in India program and the recently announced Defense Production and Export Promotion Policy (DPEPP). These initiatives seek to leverage India’s technological prowess and manufacturing capabilities to build a self-reliant defense ecosystem capable of meeting the country’s security needs while also catering to global demand.
Furthermore, the government’s emphasis on defense exports reflects its recognition of India’s growing stature as a reliable supplier of defense equipment and technology. By expanding its footprint in the global arms market, India not only enhances its economic resilience but also strengthens its strategic influence on the world stage.