India's dominance in defense production, preparations to produce defense worth three lakh crores by 2029

India's stature is continuously increasing in the production of defense material. In the coming days, India can become a hub for the production of defense material. The Government of India aims to increase defense production to three lakh crore rupees by 2029 and export defense material worth Rs 50 thousand crore. The country's dependence on the import of defense material is decreasing.

The Government of India aims to increase defense production to three lakh crore rupees by 2029 and export defense material worth Rs 50 thousand crore. This information has been issued by the Defense Ministry in a statement.

The government has said that it plans to make India a hub for the production of defense material. By increasing defense production, our dependence on the import of defense material is decreasing and we are becoming self-reliant as well as creating employment and getting foreign exchange.

The statement said that along with 16 government undertakings, 430 licensed companies are also engaged in the production of defense material in the country. Along with this, 16 thousand small industries are also contributing to increasing production. The private sector is playing a major role in the country's defense production. It is contributing about 21 percent of the total production.

Increasing demand for India's defense products
The government has said that due to this increasing efficiency, a target of exporting material worth Rs 50 thousand crore per year has been set by 2029. It was told that between 2004 and 2014, the country exported defense material worth Rs 4,312 crore, while between 2014 and 2024 it increased to Rs 88,319 crore. This is an example of the increasing demand for India's defense products in the world.
Export of defense material is 32.5 percent per year
India's defense material export is growing at the rate of 32.5 percent per year. India is currently exporting defense material to more than 100 countries of the world. The main countries to which India is exporting its products include America, France and Armenia.