Noting that the time when India depended on import for its defence needs has changed, Defence Minister Rajnath Singh said about 65 per cent of defence equipment is being made in India and only 35 per cent is being imported.
Speaking at an event in Thiruvananthapuram of Kerala, Singh said the annual defence production has crossed Rs 1.27 lakh crore and the target is to reach Rs 1.75 lakh crore in this fiscal year.
Singh said he is confident that the defence ministry will achieve the target of Rs 3 lakh crore worth of defence production by 2029.
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“Today, we are also exporting defence equipment made in India. In Financial Year 2023-24, India's defence exports crossed Rs 21,000 crore. Our target is to increase defence exports up to Rs 50,000 crore by 2029,” the defence minister said.
In the fiscal year 2023-2024, the country's defense exports touched an all-time high of ₹21,083 crore, an increase of 32.5 per cent from the last fiscal. From 2014-15 to 2023-24, India's total defense exports stood at ₹88,319 crore. Policy reforms and the increased focus on indigenous production and export facilitation have been cited as reasons for this increase.
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The minister said a series of measures have been taken to create a robust production base and an ecosystem for defence R&D and innovation to realize Prime Minister Shri Narendra Modi’s vision of ‘Aatmanirbhar Bharat’.
He also spoke about the increasing role of women in the armed forces saying, "We have ensured increased participation of women in all the three wings of the Armed Forces. The Permanent Commission for women has been allowed. One of the most prestigious military training institutes, National Defence Academy, has also been opened for women. Our government is marching ahead with the vision of women empowerment and women-led development.