Rajnath Singh Targets Military Exports Worth Rs 50,000 Cr Annually by 2028-29

ENA Sectors 2024-06-14 16:15:44 New Delhi, Jun 14 (KNN) Defence Minister Rajnath Singh, upon resuming his role, has outlined ambitious goals for India's defence sector. He aims to achieve annual military exports worth Rs 50,000 crore by 2028-2029, a significant increase from the record Rs 21,083 crore reached in the 2023-24 financial year. Singh's agenda includes fast-tracking 'Make in India' initiatives for defence production and reviewing major defence production initiatives and schemes that promote indigenous research and development. The ministry also plans to establish a new defence export promotion agency to boost arms sales abroad. The minister emphasised equipping the armed forces with state-of-the-art weapons and platforms while achieving self-reliance in defence manufacturing. He stressed that the welfare of serving and retired soldiers remains a top priority. Recognising the growing importance of the Indian Ocean Region in defence strategy, Singh plans to visit the Eastern Naval Command in Visakhapatnam as his first official trip. The ministry anticipates finalizing several major military export deals with countries like the Philippines, Vietnam, and Armenia in the coming months. India has already exported various defence equipment, including artillery guns, missiles, rocket launchers, and ammunition to friendly nations. In his initial actions, the minister conducted a review meeting focusing on the first 100 days' Action Plan of the ministry under the new government. Discussions centered on veteran welfare and issues related to the Department of Ex-Servicemen Welfare. (KNN Bureau) 38205 https://knnindia.co.in/news/newsdetails/sectors/rajnath-singh-targets-military-exports-worth-rs-50000-cr-annually-by-2028-29 2024-06-14 16:15:44 knnindia.co.in Rajnath Singh Targets Military Exports Worth Rs 50,000 Cr Annually by 2028-29