From Rs 686 Cr in 2014 to Rs 39,000 Cr in 2026: Rajnath Singh Details India's Massive Defence Export Surge
According to Singh, India has surpassed its previous annual export target of ₹30,000 crore, paving the way for an even more ambitious milestone. The govt is now aiming at pushing India's defence exports to ₹50,000 crore by 2029. He also said that nearly 100 countries rely on India's defence exports.
- Defence News
- 2 min read
New Delhi: India’s defence manufacturing sector has marked a historic milestone, with annual defence exports skyrocketing from ₹686 crore in 2014 to nearly ₹39,000 crore in 2026.
Speaking at the Forces First - Bharat The Defence Powerhouse Conclave organized by Republic, Defence Minister Rajnath Singh highlighted the surge as a defining achievement in India’s journey toward complete self-reliance (Aatmanirbharata) in defence.
According to the Defence Minister, the country successfully surpassed its previous annual export target of ₹30,000 crore, paving the way for an even more ambitious milestone. The government is now aiming at pushing India's defence exports to ₹50,000 crore by 2029. Currently, Indian-made military hardware and indigenous defence technologies are being exported to nearly 100 countries globally.
Overhauling the Export Ecosystem
Singh attributed this exponential growth to a series of aggressive policy updates and bureaucratic reforms designed to make Indian businesses globally competitive.
Key structural changes include:
Process Simplification: The introduction of an online approval system and a streamlined Export-Import (EXIM) portal.
Licensing & Certification: The implementation of the Open General Export License (OGEL), simplified quality certification, and a "green channel" policy featuring self-certification for trusted manufacturers.
The Defence Minister emphasized that these measures have significantly elevated India’s international prestige, positioning the nation as a reliable and technologically advanced global partner.
Funding the Next Generation of Innovation
Beyond manufacturing, the government is shifting its focus heavily toward research, development, and nurturing young talent. Recognizing that true self-reliance cannot rely solely on legacy mega-industries, the Ministry of Defence is pivoting toward the country's vibrant startup and MSME sectors.
To back this vision, the Ministry has approved a budget of ₹2,400 crore dedicated entirely to purchasing defence products from startups and MSMEs. Additionally, ₹1,500 crore has been earmarked exclusively for the development of next-generation technologies.
Driving this grassroots innovation is the Innovations for Defence Excellence (iDEX) initiative. As of March 2026, the program has actively engaged 676 innovators and startups, resulting in the successful signing of 551 development contracts.
Published By : Ankita Paul
Published On: 18 July 2026 at 13:39 IST