New Delhi, Apr 17 (PTI) The value of India’s defence production this year is expected to cross Rs 1.60 lakh crore and the target is to manufacture military hardware worth Rs 3 lakh crore by 2029, Defence Minister Rajnath Singh said on Thursday.

India will reduce its dependency on imports and create a defence industrial eco-system that will not only meet the country’s needs but will also strengthen the potential of defence exports, he said.

Singh was speaking at the ‘Defence Conclave 2025 — Force of the Future’ hosted by ‘The Week’ magazine.

“The day is not far when India will not only emerge as a developed country, but our military power will also emerge as the number one in the world,” he asserted.

“This year, defence production should cross Rs 1.60 lakh crore, while our target is to produce defence equipment worth Rs 3 lakh crore by the year 2029,” he said.

The defence minister said while India’s defence manufacturing capabilities are aimed at national security and strategic autonomy, they are also insulating manufacturing from global “supply shocks”.

“Our defence exports should reach Rs 30,000 crore this year and Rs 50,000 crore by the year 2029,” he announced.

Singh underlined that India’s growing defence capability is not meant to provoke conflict. “Our defence capabilities are like a credible deterrence, to maintain peace and tranquillity. Peace is possible only when we remain strong,” he added.

In his address, Singh laid out a compelling vision for a “self-reliant and future-ready” India in the defence sector with a focus on indigenisation, innovation, and global leadership.

The defence minister said India is not only securing its borders but also positioning itself as a key player in the international defence ecosystem.

Singh 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.

The government’s first and foremost challenge was to change the mindset that India would simply import to meet its defence needs, he recalled.

“Today, while India’s defence sector is moving ahead on the path of self-reliance, it is also ready to play a very important role in making global supply chains resilient,” Singh emphasised.

He added the ‘Make in India’ programme is not only strengthening the country’s defence production but also has the capability to make the global defence supply chain resilient and flexible.

On the evolving nature of warfare, Singh underscored that in the coming days, conflicts and wars will be more violent and unpredictable.

The cyber and space domains are rapidly emerging as new battlefields and along with this, a war of narrative and perception is also being fought all over the world.

To address these challenges, he mentioned that the focus is on holistic capacity building and continuous reforms.

Reflecting on reforms, Singh highlighted that corporatising the over 200-year-old Ordnance Factories was a “bold but necessary step”.

“Today Ordnance Factories are performing very well in their new form and have become profit-making units. I believe that changing a structure that is more than two hundred years old is a very big reform of this century,” he added.

The defence minister outlined the government’s indigenisation drive, noting the release of five positive indigenisation lists by the Armed Forces and five by Defence Public Sector Undertakings (DPSUs).

The defence ministry came out with the positive indigenisation lists comprising military hardware which will be produced within the country under a staggered timeline.

“The total number of defence equipment, weapon systems and platforms included in the list of the services is 509. These will now be produced in India,” he said.

“Similarly, the total number of items included in the DPSU (defence public sector undertakings) lists is 5,012 including strategically important Line replacement units, sub-systems, spares and components,” Singh said.

The defence minister also highlighted the government’s decision to reserve 75 per cent of the defence budget for procurement from domestic companies. PTI MPB NSD NSD