Defence exports to more than double to US$ 4.8 billion (Rs. 40,000 crore) by 2026: Union Minister for Information & Broadcasting and Youth Affairs & Sports, Mr. Anurag Singh Thakur.

Union Minister for Information & Broadcasting and Youth Affairs & Sports, Mr. Anurag Singh Thakur, revealed that India anticipates its defence exports to more than double to US$ 4.8 billion (Rs. 40,000 crore) within two years, up from the current US$ 1.9 billion (Rs. 16,000 crore). This announcement underscores the government's dedication to bolstering India's defence capabilities. As per an official government release, India boasts a defence production value of US$ 11.9 billion (Rs. 1 trillion), with exports standing at US$ 1.9 billion (Rs. 16,000 crore).

Mr. Thakur’s remarks, made during a book launch event in New Delhi, echo Prime Minister, Mr. Narendra Modi's emphasis on prioritizing dialogue over conflict. These projections align closely with recent official statements, including Defence Minister, Mr. Rajnath Singh's forecast in February that India's annual defence production could reach US$ 35.8 billion (Rs. 3 trillion) by 2028-29, with exports potentially hitting US$ 6 billion (Rs. 50,000 crore). Mr. Thakur also highlighted plans to domestically manufacture high-end systems like aero-engines and gas turbines within five years, underlining India's commitment to self-reliance in defence manufacturing.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.