India targets Rs 3L crore defence production by 2029: Minister
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New Delhi: India has set an ambitious target of achieving Rs 3 lakh crore in defence production and Rs 50,000 crore in defence exports by 2029, Union Minister Mansukh Mandaviya said on Thursday, underscoring the country’s push towards Aatmanirbharta in the strategic sector.
Addressing a press conference in the national capital, the Union Minister for Labour & Employment and Youth Affairs & Sports said India’s journey towards self-reliance in defence has moved beyond policy intent and is now a “strategic reality”.
He highlighted that indigenous manufacturing has significantly reduced the country’s dependence on imports while strengthening domestic capabilities.
According to the Union Minister, India recorded its highest-ever defence production in FY 2024-25 at Rs 1.54 lakh crore. Indigenous production has grown by nearly 174 per cent over the past decade, rising from Rs 46,429 crore in 2014-15 to Rs 1.27 lakh crore in FY 2023-24.
“India now manufactures approximately 65 per cent of its defence equipment domestically, a significant improvement from the previous high import dependence of 65-70 per cent,” he said.
