India's Defence Industry Set For Robust Growth, Exports Expected To Reach Rs 40,000 Crore By 2026, Says Rajnath Singh

Indian defence exports are predicted to touch Rs 35,000-40,000 crore by 2026, announced Defence Minister Rajnath Singh at a recent lecture held in Pune.

Singh also revealed that 80 per cent of products obtained by the defence sector are indigenised, marking that it's for the first time this has been achieved.

The Minister responded to a student's inquiry and disclosed that exports had increased from Rs 900 crore in 2014 to Rs 15,000-16,000 crore presently. He further projected that exports would be worth Rs 35,000-40,000 crores by 2026.

The Defence Minister was delivering the Field Marshal SHFJ Manekshaw Memorial Lecture organised by Symbiosis International University in Pune.

As management professionals, Singh urged students to make decisions while maintaining their conscience. With the central government’s support in creating policies for start-ups, India has seen a rise in the number of start-ups, with 100 unicorns out of over 90,000 start-ups in the country, he said.

The ease of doing business has significantly improved due to the reforms made in laws and research and development. Singh also mentioned that the reduction of red tape has made it convenient for young entrepreneurs to launch their businesses smoothly.