Indian Defence Minister Rajnath Singh on Saturday said the country's defence exports will reach Rs 50,000 crore by 2029-30.

While addressing the 65th Foundation Day celebrations at the Indian Institute of Technology (IIT), Kanpur, Rajnath Singh said the Government’s efforts to achieve self-reliance are yielding desired results as the defence exports, which were around just Rs 600 crore ten years ago, crossed a record number of Rs 21,000 crore in Financial Year 2023-24.

Highlighting the increasing role of technology in the defence ecosystem across the globe amidst ongoing conflicts, Singh said that the use of drones, laser warfare, cyber warfare, precision guided missiles and hypersonic missiles has transformed warfare into a technology-oriented one.

“The biggest hurdle in achieving ‘Aatmanirbharta’ in defence is that we are compelled to import some high-end technologies necessary for our items. There is a need to focus on defence application of modern cutting-edge technologies in view of the changing nature of warfare,” he added.

As part of the celebrations, IIT Kanpur hosted a special event on defence innovation, aligning with the vision of ‘Aatmanirbhar Bharat’.

Rajnath Singh visited a Defence Research, Product, and Incubation Showcase organised by the Start-up Incubation and Innovation Centre (SIIC) at IIT Kanpur, which highlighted pioneering solutions from 23 SIIC-incubated start-ups, presenting advancements in defence technology such as autonomous systems, AI-driven surveillance, and next-generation communication tools.

Singh engaged with Start-up founders and research teams at the exhibition stalls, commending their contributions to enhance national security.