Defence Minister Rajnath Singh on Friday announced that India’s defence procurement is projected to cross ₹2 lakh crore in the current fiscal year.
Speaking at the Economic Times World Leaders Forum 2025 in New Delhi, Singh said the government would allocate 75% of this expenditure to domestic companies, reflecting its strong emphasis on self-reliance.
He noted that the current defence budget stands at ₹6.21 lakh crore and will increase further in the aftermath of Operation Sindoor, launched earlier this year to strengthen India’s security response.
Singh underscored the government’s commitment to empowering private Indian firms to compete globally.
“When you make in India, you make for the world,” he said, urging foreign companies to invest in India’s growing defence ecosystem.
He assured that the government would provide quick clearances and opportunities for joint ventures and co-production.
The Minister also stressed that India must evolve from being a consumer of technology to becoming a creator.
“Our vision is to position India not just as a manufacturing hub, but as a global leader in advanced defence technologies,” Singh said.
Broader Economic Outlook
Expanding beyond defence, Singh highlighted India’s economic transformation over the past decade.
He pointed out that service exports have more than doubled, while inflation has declined significantly.
Quoting economist Jagdish Bhagwati, he said India has transitioned from a country once reliant on the World Bank to one shaping global economic discourse.
On the issue of challenges faced by Indian students and professionals abroad, Singh acknowledged rising anti-immigration sentiment.
However, he framed this as a chance to reverse brain drain.
“If Indians face difficulties in universities or jobs overseas, we must focus on creating an environment that attracts them back,” he said.
He concluded by asserting that India’s defence and economic strategies drive national progress and aim to build a secure, innovative, and self-reliant nation.
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