Defence Minister Rajnath Singh has said that the government has reserved 75 per cent of the defence budget for procurement from domestic companies. Speaking at the Defence Conclave in New Delhi today, Mr Singh pointed out that defence production in the country has risen from 40 thousand crore rupees in 2014 to over one lakh 27 thousand crore rupees today. He added that the government has set a target to produce defence equipment worth three lakh crore rupees by 2029.
The Minister said, that under the leadership of Prime Minister Narendra Modi, the revival and strengthening of the defence sector is one of the biggest priorities for the government. Mr Singh emphasised that India will reduce its dependency on imports and create a defence industrial complex that will not only meet India’s needs but will also strengthen the potential of defence exports. On Defence exports, the Minister underscored that the figures had surged from 686 crore rupees in 2013-14 to over 23 thousand crore in 2024-25.
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