Rajnath Singh Advocates Self-Reliance at Maritime Dialogue in Kolkata
At the 'Sagar Sankalp' maritime dialogue in Kolkata, Defence Minister Rajnath Singh emphasized the need for self-reliance in India's defense sector amid global uncertainties. He highlighted technological advancements and policy reforms aimed at boosting domestic defense production, which reached ₹1.5 lakh crore in FY 2024-25. The government aims for defense exports to reach ₹50,000 crore by 2029-30 and plans significant investments under the Maritime India Vision initiatives to enhance shipbuilding capabilities.
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During the 'Sagar Sankalp' dialogue in Kolkata, Defence Minister Rajnath Singh stressed the importance of self-reliance in defense and maritime sectors due to global uncertainties. He pointed out the need for India to enhance domestic capabilities to address supply chain disruptions and geopolitical tensions, especially regarding energy supplies from the Strait of Hormuz.
Singh discussed the government's reforms to bolster defense production and achieve self-sufficiency, revealing that domestic defense production reached ₹1.5 lakh crore in FY 2024-25, with exports projected to rise to ₹29,000 crore by April 2026. The aim is to achieve ₹50,000 crore in exports by 2029-30, with private industry expected to contribute 50% of production. He announced plans to invest approximately ₹3 lakh crore in shipbuilding initiatives under Maritime India Vision 2030 and 2047, aiming to position India among the top shipbuilding nations by 2030.
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