Rajnath Singh targets Rs 500 billion in military exports

17 Jun 2024 CW Team

In the coming weeks, he will lead review meetings focused on major defence production initiatives and flagship schemes aimed at promoting indigenous research and development.

"Defence exports reached a record Rs 210.83 billion in the financial year 2023-24. It was historic. Our target is to export over Rs 500 billion worth of defence equipment by 2028-2029," Singh stated.

Sources indicate that several significant military export deals with countries like the Philippines, Vietnam, and Armenia are in progress and may be finalised in the coming months. The ministry also plans to establish a new defence export promotion agency dedicated to boosting arms sales abroad. Recently, India has exported 155 mm artillery guns, brahmos missiles, multi barrel rocket launchers, and various types of ammunition to friendly nations.

Singh emphasised that one of his top priorities is to equip the armed forces with state-of-the-art weapons and platforms to ensure they are prepared for any challenge.

"Our aim is to further strengthen the country's security apparatus, focusing on achieving self-reliance in defence manufacturing. Modernising the armed forces and ensuring the welfare of both serving and retired soldiers will remain our primary focus," he said.

Immediately after taking office, Singh held a review meeting for the ministry's first 100 days' action plan under the new government. Officials reported that the meeting concentrated on veterans' welfare and discussed issues related to the Department of Ex-Servicemen Welfare.

Acknowledging the increasing strategic importance of the Indian Ocean Region, Singh has decided that his first visit in this tenure will be to the Eastern Naval Command in Visakhapatnam, where he will engage with officers and sailors.

(Source: ET)

Upon resuming his role as Defence Minister, Rajnath Singh has set a goal of generating Rs 500 billion in military exports annually and has committed to expediting initiatives under the 'Make in India' program for defence production. In the coming weeks, he will lead review meetings focused on major defence production initiatives and flagship schemes aimed at promoting indigenous research and development. Defence exports reached a record Rs 210.83 billion in the financial year 2023-24. It was historic. Our target is to export over Rs 500 billion worth of defence equipment by 2028-2029, Singh stated. Sources indicate that several significant military export deals with countries like the Philippines, Vietnam, and Armenia are in progress and may be finalised in the coming months. The ministry also plans to establish a new defence export promotion agency dedicated to boosting arms sales abroad. Recently, India has exported 155 mm artillery guns, brahmos missiles, multi barrel rocket launchers, and various types of ammunition to friendly nations. Singh emphasised that one of his top priorities is to equip the armed forces with state-of-the-art weapons and platforms to ensure they are prepared for any challenge. Our aim is to further strengthen the country's security apparatus, focusing on achieving self-reliance in defence manufacturing. Modernising the armed forces and ensuring the welfare of both serving and retired soldiers will remain our primary focus, he said. Immediately after taking office, Singh held a review meeting for the ministry's first 100 days' action plan under the new government. Officials reported that the meeting concentrated on veterans' welfare and discussed issues related to the Department of Ex-Servicemen Welfare. Acknowledging the increasing strategic importance of the Indian Ocean Region, Singh has decided that his first visit in this tenure will be to the Eastern Naval Command in Visakhapatnam, where he will engage with officers and sailors. (Source: ET)

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