India has set an ambitious target of achieving Rs 3 lakh crore in defence production and Rs 50,000 crore in defence exports by 2029, demonstrating a steadfast commitment to self-reliance in the defence sector, as articulated by Union Minister Mansukh Mandaviya. The country recorded its highest-ever defence production at Rs 1.54 lakh crore in FY 2024-25, marking a remarkable growth of 174 per cent over the past decade. Defence exports surged dramatically to Rs 23,622 crore, a significant increase from Rs 686 crore in FY 2013-14, with India now supplying a diverse range of defence products to over 100 countries. The role of Micro, Small, and Medium Enterprises (MSMEs) has been pivotal, with approximately 16,000 MSMEs contributing to the defence manufacturing ecosystem, fostering public-private collaborations. Recent policy reforms, including the Defence Procurement Manual 2025 and active indigenisation efforts, are driving a transition from heavy import dependence towards innovation and efficiency, enhancing India’s position in global defence manufacturing while strengthening national security and international partnerships. This trajectory aligns with broader strategic goals to elevate India’s geopolitical stature in response to regional threats.