India Eyes Rs 50,000 Crore in Defence Exports by 2030: Aiming for Global Self-Reliance in Military Technology

India is setting ambitious goals to position itself as a major global defense exporter, with Defence Minister Rajnath Singh recently affirming that the country aims to reach Rs 50,000 crore in defense exports by 2029-30. This bold projection aligns with Prime Minister Narendra Modi’s vision of a “Viksit Bharat” (Developed India) and reflects India’s efforts to establish self-reliance in defense technology, with homegrown innovation and production at its core.

The recent celebration of the 65th Foundation Day at the Indian Institute of Technology (IIT) in Kanpur underscored this commitment, where Singh emphasized India’s need to indigenously develop high-tech defense solutions—especially those it currently imports—to compete globally. Highlighting the transformative role of technology in reshaping global security, Singh urged young Indian innovators to advance technologies crucial for modern defense, such as artificial intelligence, drones, precision-guided missiles, and cyber warfare tools.

In his address, Singh described nations as falling into one of three technological categories: those that lead in advanced technologies, those that are stagnating, and those on the rise. He placed India in the third category, ready for a technological takeoff. Currently, India is actively moving up in the ranks, with defense exports hitting a record Rs 21,000 crore in the fiscal year 2023-24—up from just Rs 600 crore ten years ago.

The journey towards this self-reliance isn’t without its hurdles. Singh acknowledged that while India has made substantial strides in defense production, certain high-end technologies still have to be imported to meet defense needs. This reliance underscores the importance of developing cutting-edge military technology within India itself. To support this, the government has rolled out various initiatives such as the Innovations for Defence Excellence (iDEX), which offers grants of up to Rs 1.5 crore to innovators and startups focusing on defense technology. Additionally, the ADITI (Acing Development of Innovative Technologies with iDEX) scheme provides funding up to Rs 25 crore to develop strategic and critical defense technologies.

At the IIT Kanpur event, Singh interacted with founders of several startups and researchers exhibiting their innovations, including AI-driven surveillance systems, autonomous military systems, and next-generation communications tools. A Defense Research, Product, and Incubation Showcase, organized by IIT Kanpur’s Startup Incubation and Innovation Centre (SIIC), featured 23 startup solutions that highlighted India's growing expertise in defense tech. Singh praised these efforts, noting that institutions like IIT Kanpur are academic engines fueling India’s defense sector with a dynamic mix of research, innovation, and practical application.

India’s defense ecosystem has also benefited from significant partnerships formalized through memoranda of understanding (MoUs) with public sector undertakings like Bharat Earth Movers Limited (BEML) and Hindustan Aeronautics Limited (HAL). These collaborations are expected to drive advances in military logistics, defense manufacturing, and research. Additionally, a partnership with Kanpur University is set to enhance incubation efforts, encouraging even more defense innovation.

In line with these developments, Secretary of Defence Research & Development (DDR&D) and DRDO Chairman, Samir V Kamat, presented sanction letters for six new DRDO projects, reinforcing India's commitment to advancing homegrown technology for the armed forces. The Small Industries Development Bank of India (SIDBI) also pledged additional funding to support iDEX-funded startups, strengthening financial backing for pioneering defense projects.

India’s defense sector transformation is not just a matter of economic and technological growth but is also a move towards securing national interests amid a rapidly shifting geopolitical landscape. By fostering domestic expertise in high-tech defense areas and reducing dependency on foreign imports, India aims to position itself among the leading nations in defense innovation and production by 2047. With these milestones, India’s defense exports goal of Rs 50,000 crore by 2030 is more than just an aspiration—it is a cornerstone of a self-reliant and globally influential India.