Pune (Maharashtra) [India], August 9 (ANI): DRDO Chairman Samir V Kamat has said that India would achieve the defence export target of Rs 50,000 crore by 2028-29.

'We should achieve Rs 50,000 crore by 2028-29, which is the target also set to us by the Raksha Mantri. There is a lot of interest in Pinaka, in ATAGS (Advanced Towed Artillery Gun System), in Brahmos, in Akash,' Kamat told reporters at an interaction here after participating in the convocation ceremony of Defence Institute of Advanced Technology

He expressed confidence that the country's exports of these systems will increase in the coming years.

Kamat said countries in Southeast Asia, the Middle East, and Africa regions are showing interest in Indian defence systems.

India's defence exports surged to a record high of Rs 23,622 crore in the financial year 2024-25. It was a growth of Rs 2,539 crore or 12.04 per cent over the defence exports figures of Rs 21,083 crore in 2023-24.

'Based on the interest that we are getting now, because of the success of our systems in Operation Sindoor, I expect these exports to double in the next two to three years,' Kamat said.

The annual defence production has soared to an all-time high figure of Rs 150,590 crore in the financial year 2024-25. The milestone represents a robust 18 per cent growth over the previous fiscal's output of Rs 1.27 lakh crore, and a staggering 90 per cent increase since 2019-20, when the figure was Rs 79,071 crore.

Defence Minister Rajnath Singh has lauded the collective efforts of the Department of Defence Production and all stakeholders in achieving this landmark. He termed the upward trajectory as a clear indicator of India's strengthening defence industrial base.

Defence Public Sector Undertakings (DPSUs) and other PSUs accounted for approximately 77 per cent of total production, while the private sector contributed 23 per cent.

As part of its 'Atmanirbhar' and Make in India plans, the government has launched various schemes, including the production-linked incentive (PLI), in various sectors to make Indian manufacturers globally competitive, attract investments, enhance exports, integrate India into the global supply chain, and reduce dependency on imports.

'It's indeed a proud moment for all of us. It's a reflection of the strength of our R&D and production in the defence domain. I'm sure going ahead, this number will keep increasing...The present government, when it came into power in 2014, started 'Atmanirbhar Bharat' and Make in India,' Kamat said.

'Today, the industry is very confident that if they are able to produce the systems within the country, the ministry will acquire the systems for our services,' he added.

The government is investing heavily in defence and aerospace manufacturing, with several defence hubs being set up. Many global companies have either shared or shown intent to share critical defence and aerospace knowledge with India.

A wide range of items, including ammunition, arms, subsystems/systems, and parts and components, were exported to around 80 countries in the just-concluded financial year, according to the Ministry of Defence data. The latest conflict with Pakistan also alluded to the fact that it is critical to achieve self-reliance in defence manufacturing. (ANI)