Rajnath Singh targets ₹3 lakh crore in defence production by 2029

According to reports by Hindustan Times and Business Standard, Union Defence Minister Rajnath Singh chaired a meeting of the Consultative Committee of the Ministry of Defence on 'Modernisation of the Indian Armed Forces' in Jaisalmer on Tuesday. He emphasized the government's commitment to building a technologically empowered military capable of meeting current and emerging security challenges.

Highlighting the increased financial support for military modernisation, Rajnath Singh stated that the defence budget for the financial year 2026-27 has been increased to a record level of ₹7.85 lakh crore, which includes a capital allocation of ₹2.19 lakh crore for modernisation and capital advance procurement. Minister of State for Defence Sanjay Seth, Defence Secretary Rajesh Kumar Singh, Secretary of Defence Production Sanjeev Kumar, Ex-Servicemen Welfare Secretary Sukriti Likhi, Defence Financial Secretary Vishwajeet Sahay, along with senior civil and military officials, were present at the meeting.

At the meeting, comprehensive discussions were held on changing paradigms of warfare, emerging security threats, technological advancements, and the need to strengthen the operational preparedness of the armed forces. Addressing the committee, Rajnath Singh stated that under the leadership of Prime Minister Narendra Modi, the government is focusing on three key areas to prepare the armed forces for the evolving demands of modern warfare, which include budget and capital acquisition, self-reliance in defence production, and technology and human capital.

Speaking about India's growing self-reliance, the Defence Minister stated that domestic defence production was ₹46,429 crore in the financial year 2014-15, which has increased to a record level of ₹1.78 lakh crore in the financial year 2025-26. In addition, defence exports, which were less than ₹2,000 crore in 2014, have also risen to approximately ₹40,000 crore. He clarified that our objective is to achieve ₹3 lakh crore in defence production and ₹50,000 crore in defence exports by 2029.

Rajnath Singh underlined the growing role of technology in modern warfare and mentioned the initiatives taken by the Defence Research and Development Organisation to develop advanced weapons, missiles, and military systems. He stated that the government is providing a level playing field to the private sector and encouraging participation from micro, small, and medium enterprises to large corporations in the defence ecosystem.

Emphasizing the importance of human capital, Rajnath Singh stated that the strength of the armed forces depends not only on technology and financial resources, but also on the capabilities and preparedness of their personnel. He added that all three services are continuously refining their military structures and formations to suit changing battlefield requirements. The new formations of the Indian Army, including the Asani, Bhairav, and Shaktibaan platoons, are proving to be extremely effective in addressing contemporary operational requirements and adapting to the changing dynamics of the battlefield.

The Defence Minister emphasized that strategic autonomy and indigenous technological sectors are essential for national security, and the government is working to build a robust domestic defence ecosystem to reduce dependence on foreign sources. The meeting also focused on strengthening tri-service integration, joint operational planning, artificial intelligence, autonomous systems, unmanned platforms, cyber and space capabilities, electronic warfare, and advanced communication systems. Members of Parliament from both the Lok Sabha and the Rajya Sabha shared suggestions during the meeting and emphasized enhancing collaboration to boost research and innovation.