The Ministry of Defence in India has set an ambitious target to achieve a turnover of ₹1.75 lakh crore in aerospace and defence manufacturing by 2025. Alongside this, the goal of reaching ₹50,000 crore in exports by 2029-2030 underscores the government’s commitment to positioning India as a leading global defence manufacturing hub.
Rajinder Bhatia, President of the Society of Indian Defence Manufacturers (SIDM), emphasised the need to operationalise existing policies to meet these targets. He highlighted that private industry, contributing approximately 65% of current defence exports, is pivotal to this growth.
Neeraj Gupta, Managing Director of MKU Group, acknowledged the progress made over the past six years, with India achieving an export target of around ₹21,000 crore, reflecting a 32% year-on-year growth.
Vrinda Kapoor, CEO of 3rdiTech, expressed optimism about the national deep tech research fund, which aims to provide substantial financial support for long-term bets in the sector. She emphasised the need for innovative disbursement, accessibility, and repayment mechanisms to ensure the scheme’s success.
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