Defence Minister Rajnath Singh announced that India’s defence exports hit ₹23,000 crore in 2023-24, with a ₹50,000 crore target by 2029.
India has achieved 88% self-sufficiency in ammunition production, with defence exports reaching ₹23,000 crore in 2023-24, Defence Minister Rajnath Singh said on Monday. Speaking at the 16th Foundation Day of IIT Mandi, he highlighted the government’s efforts to build a robust defence industry that strengthens national security and boosts economic growth.
Singh set an ambitious goal of ₹50,000 crore in defence exports by 2029 and urged students to contribute to technological advancements in the sector. He emphasised innovation in fields like AI, machine learning, and digital technologies to make India a developed nation by 2047.
Highlighting India’s growing digital economy, Singh noted that the country now has over 1.25 lakh startups and 110 unicorns, ranking third globally. He also praised India’s telecom sector and the success of UPI, urging students to drive technological progress in India’s digital and defence sectors.
Source: The Hindu
