Defence Minister Rajnath Singh said on Friday that defence manufacturers must treat expenditure on R&D as an investment. He noted that India’s defence exports reached a record ₹38,424 crore in the financial year 2025-26. The government now aims to reach ₹50,000 crore in defence exports by the year 2029.
“Defence manufacturers must treat expenditure on R&D as an investment that strengthens operational preparedness, improves competitiveness and contributes to national security,” Defence Minister Rajnath Singh said on Friday.
Referring to the session’s theme, “Sovereign Capabilities, Contested Frontiers: Accelerating India’s Strategic Autonomy in an Era of Disruption,” Singh said that national security increasingly depends on the country’s ability to design, develop, manufacture and control the technologies and equipment required by its Defence Forces. He expressed confidence that India’s talent pool, young workforce, industrial capabilities and policy support would enable the country to emerge among the world’s leading defence manufacturing nations.
Defence exports
He also recalled his earlier call for increasing the private sector’s share in India’s total defence production from approximately 24 percent to 50 percent. According to him, the transformation of India’s defence industry from a major importer of defence equipment to a credible and reliable exporter of sophisticated military hardware is a significant achievement. He noted that India’s defence exports reached a record ₹38,424 crore in the financial year 2025-26, registering growth of over 60 per cent compared with the previous financial year. He reiterated the target of achieving ₹50,000 crore in defence exports by 2029.
The Minister acknowledged SIDM’s role in strengthening the domestic defence industrial ecosystem and facilitating policy-industry dialogue.
A total of 15 Champion Awards were presented at the event, recognising organisations for their achievements in indigenous technology development, product innovation, design, import substitution, manufacturing excellence and exports.
The event was attended by Defence Secretary Rajesh Kumar Singh, Director General (Acquisition) A Anbarasu, SIDM Founder President Baba Kalyani, SIDM President Arun Ramchandani, senior government officials, representatives of the Defence Forces, and leaders of Indian and international defence companies.