India’s Defence Exports To Touch INR 50,000 Crore in 2029–30, Says Rajnath Singh

Kanpur, November 2: Defence Minister Rajnath Singh on Saturday said that India's Aatmanirbhar drive was "yielding the desired results" and the country was poised to reach Rs 50,000 crore in defence exports by 2029-30.

Addressing the 65th Foundation Day celebrations at the Indian Institute of Technology (IIT), Kanpur, the Defence Minister called upon Indian youth to indigenously develop high-end technologies, which the country imports, to realise Prime Minister Narendra Modi's vision of 'Viksit Bharat'. India-China Border Row: Rajnath Singh Informs ‘Process of Disengagement Almost Complete’ After India-China LAC Truce in Ladakh.

He stressed on the need to get a hold on high-end technology, urging the young ignited minds to realise their potential and contribute to the country's progress. He termed institutions like IIT Kanpur as academic engines, which can provide a dynamism to India in the present competitive environment.

Rajnath Singh said that the government's efforts to achieve self-reliance are turning out to be highly successful as defence exports, which were around just Rs 600 crore 10 years ago, crossed a record number of Rs 21,000 crore in Financial Year 2023-24. He exuded confidence that the progress will continue and defence exports will reach Rs 50,000 crore by 2029-30. Defence Minister Rajnath Singh Launches ‘Dare To Dream 5.0’ Initiative at DRDO Event.

Highlighting the increasing role of technology in the defence ecosystem across the globe amidst ongoing conflicts, the Defence Minister said that the use of drones, laser warfare, cyber warfare, precision guided missiles and hypersonic missiles has transformed warfare into a technology-oriented one.

"The biggest hurdle in achieving 'Aatmanirbharta' in defence is that we are compelled to import some high-end technologies necessary for our items. There is a need to focus on the defence application of modern cutting-edge technologies in view of the changing nature of warfare," he added.

Rajnath Singh assured the government's full support in this endeavour and reiterated the commitment to take all stakeholders, including the private sector and academia, together to make India self-reliant in defence.

"India has dreamed of becoming a developed nation by 2047 on the strength of our youth. We must put in all our power to realise that dream. There is a proverb, 'If you want to go fast, go alone. If you want to go far, go together'. We need to walk together to achieve our target," he said.

Enumerating the steps taken by the government to promote self-reliance and innovation in defence, Rajnath Singh spoke about the Innovations for Defence Excellence (iDEX) initiative which provides a grant of Rs 1.5 crore to innovators and start-ups.

He added that Acing Development of Innovative Technologies with iDEX (ADITI) scheme was launched to promote innovations in critical and strategic defence technologies, wherein start-ups are eligible to receive grant-in-aid of up to Rs 25 crore for their research, development, and innovation endeavours in defence technology.

The Defence Minister pointed out that manufacturing of a technology involves three major steps - ideation, application & production - and institutions like IIT Kanpur can play a big role from incubating ideas to creation of products. He underscored the importance of coming out with products and technologies, which become a necessity for the Armed Forces once they are developed.

As part of the celebrations, IIT Kanpur hosted a special event on defence innovation, aligning with the vision of 'Aatmanirbhar Bharat'. Rajnath Singh visited a Defence Research, Product, and Incubation Showcase organised by the Start-up Incubation and Innovation Centre (SIIC) at IIT Kanpur, which highlighted pioneering solutions from 23 SIIC-incubated start-ups, presenting advancements in defence technology such as autonomous systems, AI-driven surveillance, and next-generation communication tools.

The Defence Minister engaged with Start-up founders and research teams at the exhibition stalls, commending their contributions to enhance national security.

Several MoUs were also signed to strengthen partnerships, including IIT Kanpur's collaborations with BEML and Hindustan Aeronautics Limited (HAL) to drive advancements in military logistics & defence innovation, and a partnership with Kanpur University to strengthen incubation efforts. Secretary of DDR&D and DRDO Chairman Samir V. Kamat presented sanction letters for six transformative DRDO projects, while SIDBI's Matching Offer for iDEX-funded start-ups further boosted essential funding support.

The event also included key discussions on the country's latest defence initiatives, such as iDEX's Defence India Start-up Challenge 12 and ADITI 2.0 Challenges, which provided attendees with valuable insights into the defence innovation landscape.

A commemorative tree plantation, led by Rajnath Singh, symbolised IIT Kanpur's enduring legacy in technological and defence advancement and commitment to sustainability.

Secretary (Defence Production) Sanjeev Kumar, Secretary, Department of Defence R&D and Chairman DRDO Dr Samir V Kamat, Director of IIT Kanpur Prof Manindra Agrawal, Professor-in-Charge of SIIC Prof Deepu Philip, students and distinguished alumni of the institute attended the event.

(The above story first appeared on LatestLY on Nov 02, 2024 07:56 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).