India aims to achieve ₹3 lakh crore in defence production and ₹50,000 crore in defence exports by 2029 as the Government steps up efforts to modernise the armed forces and strengthen indigenous defence manufacturing.
According to a press release issued by the Press Information Bureau (PIB), Defence Minister Rajnath Singh outlined these targets while chairing the Ministry of Defence’s Consultative Committee meeting on ‘Modernisation of Indian Defence Forces’ in Jaisalmer, Rajasthan, on November 3, 2026.
The meeting focused on emerging security challenges, changing warfare patterns, technological advancements and the need to develop a future-ready, technologically empowered and operationally agile military.
Key areas of discussion included accelerating the induction of next-generation platforms, weapon systems and technologies to strengthen combat capabilities and operational preparedness. The committee also emphasised greater integration among the three defence services through joint operational planning and coordinated deployment of capabilities across multiple domains.
The Government reiterated its focus on indigenous defence manufacturing under the Make in India and Aatmanirbhar Bharat initiatives, with increased participation from domestic industries, start-ups and academic institutions in research, design, development and manufacturing.
The discussions also highlighted the growing role of emerging technologies, including artificial intelligence, autonomous systems, unmanned platforms, cyber capabilities, space technologies, electronic warfare and advanced communication systems, in preparing the armed forces for future conflicts.
Strengthening collaboration among the Defence Forces, Defence Research and Development Organisation (DRDO), defence public sector undertakings, private industries and academic institutions was identified as another priority to accelerate the transition from research and innovation to operational capabilities.
Addressing the meeting, Rajnath Singh emphasised the Government’s commitment to building a technologically empowered military capable of addressing present-day and emerging security challenges.
He highlighted the Government’s initiatives across three key areas: budget and capital acquisition with a focus on self-reliance, technology and human capital. He also stressed the importance of adequate financial resources, effective utilisation of funds and prioritisation of critical requirements to strengthen military capabilities.
The meeting further underlined the need for clear implementation priorities, institutional mechanisms and measurable milestones to ensure that modernisation initiatives translate into tangible operational outcomes.
Shri Rajnath Singh stated that the defence budget for the Financial Year (FY) 2026-27 was increased to a record Rs 7.85 lakh crore, including a capital outlay of Rs 2.19 lakh crore earmarked for modernisation and capital procurement, reflecting the commitment to meeting the operational requirements of the Defence Forces while bolstering domestic defence industries and manufacturing capabilities.
On the growing Aatmanirbharta in defence, Raksha Mantri said that defence production has risen from Rs 46,429 crore in FY 2014-15 to a record Rs 1.78 lakh crore in FY 2025-26, with defence exports, which stood at less than Rs 2,000 crore in 2014, growing to approximately Rs 40,000 crore. “We aim to achieve defence production worth Rs 3 lakh crore and defence exports worth Rs 50,000 crore by 2029,” he added.
Shri Rajnath Singh underlined the transformative role of technology in modern warfare, stating that technological advancements are integral to the changing character of conflicts. He highlighted the initiatives undertaken by DRDO in developing advanced weapons, missiles and systems, adding that the Government is providing a level playing field to the private sector, enabling greater participation of entities ranging from MSMEs to large corporations in the defence ecosystem. Describing it as a ‘whole-of-the-nation’ approach, he expressed satisfaction at the growing contribution of private industry towards strengthening the defence capabilities of the country.
Underscoring the importance of human capital, Raksha Mantri stated that the strength of a military is determined not merely by technology and financial resources, but also by the capabilities & preparedness of personnel. “The rapidly evolving nature of warfare necessitates that our Defence Forces remain aligned with the changing requirements of modern warfare. Keeping this in mind, all three Services have continuously refined their structures and formations. The Indian Army’s new formations, including the ‘Asani’, ‘Bhairav’ and ‘Shaktiban’ platoons, are proving highly effective in addressing contemporary operational requirements and adapting to the changing dynamics of the battlefield,” he said.
Shri Rajnath Singh emphasised that modernisation is not just about procuring new weapons and equipment, it entails enhancing the operational preparedness of the Defence Forces, equipping them with modern technologies and developing indigenous capabilities for the long term. Underlining the significance of ‘Aatmanirbhar Bharat’ in the context of national security, he highlighted that the focus is to build a robust domestic defence ecosystem that aligns technological development with military requirements, encourages greater participation of Indian industry and reduces the country’s strategic dependence on foreign sources. Strategic autonomy and indigenous technological capabilities are essential to safeguarding national security, he said.
Raksha Mantri underscored that modernisation is a continuous process, necessitating sustained efforts to enhance operational preparedness in response to evolving technologies, shifting security challenges and changing requirements. He emphasised the need to build long-term capabilities that would enable the Defence Forces to remain operationally effective and self-reliant. He called for sustained promotion of research and development, indigenous technologies, greater industrial participation and innovation to strengthen the country’s defence capabilities.
The meeting witnessed valuable suggestions by Members of Parliament from both the Rajya Sabha and the Lok Sabha. Their diverse perspectives and insights enriched the consultative process, bringing in important legislative, strategic and national perspectives. The deliberations translated into a clear roadmap for action, with emphasis on prioritising critical capabilities, strengthening coordination among stakeholders, streamlining acquisition and development processes, and periodically assessing progress against defined objectives.
Emphasising the need to translate intent into implementation, the meeting highlighted the importance of a structured and phased approach to modernisation. The objective is to build a military capable of responding effectively to conventional, sub-conventional and multi-domain security challenges.
Raksha Rajya Mantri Shri Sanjay Seth, Defence Secretary Shri Rajesh Kumar Singh, Secretary (Defence Production) Shri Sanjeev Kumar, Secretary (Ex-servicemen Welfare) Smt Sukriti Likhi, Secretary (Defence Finance) Shri Vishvajit Sahay and other senior civil & military officials attended the meeting.
Source- Press Information Bureau (PIB)
