Defence Minister Rajnath Singh announced significant achievements in India's defence sector during a Defence Conclave in New Delhi on October 15, 2026. He revealed that defence production has reached a record ₹1.78 lakh crore in FY26, representing massive growth from ₹40,000 crore in 2014, while defence exports hit an all-time high of ₹39,000 crore compared to just ₹686 crore in 2013-14. India now exports defence products to nearly 100 countries, including bulletproof jackets to over 100 nations, and has become the fourth country globally to establish a national standard for bulletproof jackets aligned with international norms.
The government has set ambitious targets to achieve defence production of ₹2 lakh crore in the current year and ₹3 lakh crore by 2029, with export goals of ₹50,000 crore by 2029. These achievements are attributed to comprehensive reforms including simplified export procedures through the Defence EXIM Portal, online approvals, Open General Export License, streamlined quality certification, and the 'Green Channel' policy. The defence forces have issued five positive indigenisation lists covering 509 items, with a sixth list prepared for release soon, while Defence PSUs have identified 5,012 items for indigenisation, of which 3,255 have already been indigenised.
On operational capabilities, Singh highlighted that 159 of 175 ammunition variants used by Defence Forces are now indigenously produced, achieving over 90% self-reliance in ammunition variants. He cited Operation Sindoor as demonstrating growing technological capabilities and confidence in advanced indigenous systems including Akash missile system and BrahMos. The Ministry has approved procurement of goods and services worth over ₹2,400 crore from start-ups and MSMEs and sanctioned projects exceeding ₹1,500 crore for new technology development.
The defence ecosystem has expanded dramatically with over 500 companies now engaged in defence manufacturing, more than 2,000 defence startups (from few dozen in 2018) working across drones, artificial intelligence, quantum technology, cybersecurity, and robotics, and over 16,000 MSMEs contributing to the sector. The iDEX initiative has engaged 676 start-ups and innovators and facilitated 551 contracts as of March 2026. The corporatisation of OFB has transformed them from loss-making entities into profitable enterprises.
Singh emphasized India's shift in counter-terrorism approach from diplomatic condemnation to proactive action, warning that any terror act originating from Pakistan would invite an even stronger response. He identified emerging threats including 'white-collar terrorism' and 'lone-wolf attacks', describing them as part of the '5D Security Threat' - Disinformation, Destabilisation, Disruption, Deception and Destruction. He called for a 'smart power' approach combining precision-guided weapons with cost-effective weaponry, human intelligence with artificial intelligence, and advanced systems with low-cost adaptable technologies.