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 while speaking at Defence Conclave 2025.

• The minister added, 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.
•  "Our defence exports should reach Rs 30,000 crore this year and Rs 50,000 crore by the year 2029," he announced.
•  The defence minister said India is not only securing its borders but also positioning itself as a key player in the international defence ecosystem.

Defence Conclave 2025 

Defence Conclave 2025 was held on April 17, 2025, at the Manekshaw Centre in New Delhi. The event emphasized India’s shift from a defence importer to an exporter. Defence Minister Rajnath Singh announced that defence production is projected to cross ?1.6 lakh crore in 2025, with a target of Rs.3 lakh crore by 2029.