India’s Defence Equipment Exports to Reach Rs 40,000 Crore by 2026: Rajnath Singh

According to Rajnath Singh, the Defence Minister, defence exports have increased significantly from Rs. 900 crore in seven to eight years to Rs. 14000 crore in the current financial year 2022-23. He stated this while addressing a conclave in New Delhi on Thursday. This growth demonstrates the elevating self-reliance in the defence sector. The Minister also mentioned that the aim is to export defence equipment worth ₹40,000 crore by 2026. Furthermore, he stated that India is currently operating magnificiently in the sphere. The nation is not only catering to its own requirements but also exporting equipments and weapons to other countries.

The Defence Minister highlighted the Indian government’s commitment to national security as its top priority and added that self- reliance ‘Aatmanirbharta’ is the path to achieve it. In his statement, he listed various measures taken towards achieving self-reliance in defence, including the positive indigenisation lists’ notification and making a record 75% of the defence capital procurement budget for the domestic industry in the Financial Year 2023-24. Additionally, he mentioned the government’s efforts to provide local companies with access to international markets.

He emphasized on the surgical strikes and said that India is in the capacity to give appropriate response to everyone and will eliminate terrorism on its own soil as well as on foreign land, if required. According to Rajnath Singh, India has taken the initiative to combat global terrorism and has effectively gained worldwide backing to eradicate this threat.

“Whether it was the stand-off with China or ill-intentions from Pakistan, our forces have been giving a befitting reply, whenever required,” said the Minister.

Rajnath Singh also threw light on the government’s resolution for the development of the North-east areas.  “There is unprecedented peace in the Northeast, which has resulted in the withdrawal of Armed Forces (Special Powers) Act (AFSPA) from most areas,” he added. Moreover, he focused on the fact that the government have ensured the connection of resourceful region to country’s heart. The Defence Minister credited the growth in the sector to the approach and the resolutions of the central government.