India’s defence exports set to hit Rs 50,000 crore by 2029-30, says defence minister
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India’s drive for self-reliance in defence is steadily paying off, with defence exports projected to reach Rs 50,000 crore by 2029-30, according to Defence Minister Rajnath Singh.
Speaking at the 65th Foundation Day of the Indian Institute of Technology (IIT) Kanpur, Singh highlighted India’s growing defence sector, which saw exports surge from Rs 600 crore a decade ago to a record-breaking Rs 21,000 crore in the 2023-24 financial year.
Singh encouraged young innovators to develop advanced technologies domestically to further bolster Prime Minister Narendra Modi's vision of a “Viksit Bharat” (Developed India) by 2047. He praised IIT Kanpur and similar institutions as essential to India's progress, especially in equipping the nation with high-tech solutions in the defence sector.
Addressing the changing landscape of global defence due to technologies like drones, laser and cyber warfare, and hypersonic missiles, Singh emphasized the need to reduce reliance on foreign high-end technologies. He called for a national focus on adapting cutting-edge innovations to bolster India’s defence capabilities.
The government’s efforts to promote domestic innovation in defence include the iDEX (Innovations for Defence Excellence) initiative, which provides grants of Rs 1.5 crore to start-ups. Additionally, the ADITI (Acing Development of Innovative Technologies with iDEX) scheme grants up to Rs 25 crore to support critical and strategic defence projects. Singh reiterated the government's commitment to working with private companies and academia to strengthen India’s defence sector.
During the event, IIT Kanpur held a defence innovation showcase, where start-ups presented advancements in autonomous systems, AI surveillance, and next-gen communication technology. Singh engaged with founders and research teams, appreciating their efforts to enhance national security. The event also featured MoUs with BEML, Hindustan Aeronautics Limited (HAL), and Kanpur University, fostering collaboration in military logistics and defence technology.
To mark the occasion, Singh planted a commemorative tree, symbolizing IIT Kanpur’s commitment to defence and technological advancement. The gathering saw attendance from high-ranking officials, including Secretary of Defence Production Sanjeev Kumar, DRDO Chairman Dr. Samir V. Kamat, IIT Kanpur Director Prof. Manindra Agrawal, and members of IIT Kanpur’s Start-up Incubation and Innovation Centre (SIIC). The event concluded with insightful discussions on India’s defence innovation strategies, including iDEX’s latest Defence India Start-up Challenge and ADITI 2.0 Challenges, underscoring India’s path toward defence self-sufficiency.
