India Targets ₹3 Lakh Crore Defence Production and ₹50,000 Crore Exports by 2029

India has set an ambitious goal to expand its domestic defence manufacturing industry, with the government targeting ₹3 lakh crore in annual defence production and ₹50,000 crore in defence exports by 2029 . Minister of State for Defence Sanjay Seth announced the targets while addressing the 2nd Annual Trident Lecture in New Delhi. ₹3 Lakh Crore Defence Production Target India's defence production reached approximately ₹1.78 lakh crore in FY 2025–26 , marking a record level. The government now plans to increase annual production to ₹3 lakh crore by 2029 , supported by greater indigenous manufacturing, advanced defence technologies and reduced dependence on imported military equipment. Defence Exports Targeted at ₹50,000 Crore India's defence exports reached ₹38,424 crore in FY 2025–26 . The next target is ₹50,000 crore by 2029 . Indian defence equipment is already being supplied to more than 80 countries , reflecting India's growing presence in the global defence market. 16 DPSUs to Strengthen Indigenous Manufacturing Defence Minister Rajnath Singh also reviewed the performance of 16 Defence Public Sector Undertakings (DPSUs) . DPSUs contributed around ₹1.29 lakh crore to defence production in FY 2025–26. They have been asked to focus on indigenous technologies, timely delivery, global-quality products, exports and greater participation of Indian MSMEs and start-ups.