Latest news with #Agrani
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First Post
3 days ago
- Business
- First Post
What developed India's defence budget may look like
India's defence budget may rise nearly fivefold to Rs 31.7 trillion by 2047, says a report by CII and KPMG. The country aims for self-reliance by 2032 and top-five exporter status by 2038. Challenges include budget limits, import reliance, and skill gaps. read more India's defence budget is projected to grow significantly over the next two decades. According to a recently released report by the Confederation of Indian Industry (CII) and KPMG India, the budget could rise nearly fivefold to Rs 31.7 trillion (lakh crore) by 2047, up from Rs 6.81 trillion in 2025-26. India aims to enhance self-reliance in defence production by 2032, become a top-five global exporter by 2038, and lead in cutting-edge defence technologies by 2045. However, challenges remain, including budgetary constraints, regulatory hurdles, dependence on imports for critical technologies, and a shortage of skilled manpower. STORY CONTINUES BELOW THIS AD The vision for India's defence industrial sector in a developed India by 2047 is ambitious, aiming for self-reliance, becoming a major exporter, and achieving global leadership in critical niche technologies. It has been outlined in the CII-KPMG India report, titled 'Atmanirbhar, Agrani, and Atulya Bharat 2047'. The percentage of India's total GDP spent on defence is also expected to increase significantly. The report projects that the percentage of total GDP spent on defence will rise from 2 per cent to 4-5 per cent by 2047. This indicates a greater emphasis on defence expenditure relative to the overall size of the economy. Beyond the overall budget, the vision for 2047 includes projections for other key areas of the defence sector: Defence production is anticipated to experience substantial growth, reaching Rs 8.8 lakh crores by 2047, a notable increase from Rs1.6 lakh crores in 2024-25. The document also mentions aspirations to achieve Rs 3 lakh crore in defence production by 2029. Defence exports are projected to see a dramatic rise, reaching Rs 2.8 lakh crores in 2047. This is a significant leap from Rs 30,000 crores in 2024-25, reflecting the ambition to become a major exporter. The capital expenditure of the budget is expected to increase from 27 per cent to 40 per cent by 2047. This suggests a greater focus on investments in modernising the armed forces and developing indigenous military technologies. STORY CONTINUES BELOW THIS AD Total R&D spend is projected to increase from 4 per cent to 8-10 per cent by 2047. This aligns with the strategic vector of achieving global leadership in critical niche technologies and the need for increased investment in defence R&D. The document notes that leading nations spend 10-15 per cent of their defence expenditures on R&D. These projected milestones are linked to the achievement of key strategic vectors outlined in the vision. These are like conditions to be met for achieving the 2047 goals: Achieve enhanced self-reliance in defence capabilities by 2032: This involves reducing dependence on foreign suppliers and fostering indigenous development through R&D and manufacturing. Become a major exporter by 2038: The aim is to be among the top five global exporters of defence equipment and technology through expanding international partnerships and promoting Indian products. Achieve global leadership in critical niche technologies by 2045: This focuses on pioneering advancements in cutting-edge technologies like AI, quantum computing, and cyber defence through collaboration and substantial R&D investments. Achieving this transformative vision requires collaborative efforts from various stakeholders, including government bodies, the armed forces, academic institutions, industry leaders, and global partners. The document emphasises the need to address critical gaps in areas such as R&D, talent development, production capabilities, regulatory frameworks, partnerships, and infrastructure development to realise these goals. The projected defence budget and related milestones for 2047 reflect a strong commitment to transforming India's defence sector into a self-reliant, globally competitive powerhouse.
Hans India
3 days ago
- Business
- Hans India
India's defence production projected to jump 6-fold to Rs 8.8 lakh crore in 2047
The country's defence production is expected to surge over six-fold to Rs 8.8 lakh crore in 2047 from Rs 1.46 lakh crore in 2024-25, according to a report compiled by the Confederation of Indian Industry (CII) and KPMG India. India's annual defence budget could increase around five-fold to Rs 31.7 lakh crore in 2047, from Rs 6.81 lakh crore currently allocated for financial year 2025-26. The report — titled 'Atmanirbhar, Agrani, and Atulya Bharat 2047' — released at the CII annual business summit here, estimates India's defence exports to rise to Rs 2.8 lakh crore in 2047, which represents a nearly 12-fold jump compared to the corresponding figure of Rs 24,000 crore for 2024-25. The report pegs the country's total defence expenditure at 4.5 per cnet of GDP for 2047, up from 2 per cent of GDP at present. The allocation for R&D (research and development) in the defence budget is also expected to from 4 per cent at present to 8-10 per cent as the country pursues the development of cutting-edge technology for military hardware. The report observes that achieving the vision of India as a developed nation by 2047 with a strengthened defence sector, faces some challenges. However, promoting robust public-private partnerships is necessary and incentives are required to encourage the private sector enter and sustain in the defence manufacturing domain. 'Intellectual property (IP) rights and technology-transfer issues with foreign collaborators also present obstacles in achieving self-reliance. Addressing these challenges requires strategic planning, increased budget allocations, streamlined procedures, robust policy frameworks, and fostering a culture of innovation and collaboration between the public and private sectors,' the report states. Highlighting India's aspirations to emerge as a leading nation in the global defence hierarchy, the report identifies 'strategic vectors' with specific timelines to achieve this goal. The vectors include achieving enhanced self-reliance in defence production and capabilities by 2032, by targeting critical areas for comprehensive indigenous development, reducing dependence on foreign suppliers, and fostering innovation through domestic R&D and manufacturing excellence. The report further states that by 2038, India should aim to become one of the top-five global exporters of high-quality defence equipment and technology by expanding international partnerships, meeting global standards, and vigorously promoting defence products in international markets. It fixes a 2045 target for India to become a world leader in developing and deploying cutting-edge niche technologies across the defence sector, by encouraging collaboration between industry, academia, and government, and driving substantial investments in futuristic R&D. By committing to these vectors, India can turn its aspirations into reality, the report added.
News18
3 days ago
- Business
- News18
India's Shining Defence Sector: Production At Record High, Exports Poised To Grow After Op Sindoor
Last Updated: India has reached a historic benchmark in defence manufacturing, with total production in FY25 climbing to Rs 1.46 trillion. Record-breaking production, strategic foresight, global recognition of indigenous weaponry, and women power – India's defence sector is witnessing its golden period. Every milestone is pushing the country towards becoming a self-reliant and export-capable military power, with long-term projections indicating robust growth and modernisation. India has reached a historic benchmark in defence manufacturing, with total production in FY25 climbing to Rs 1.46 trillion. This is an almost 15 per cent jump from the previous record of Rs 1.27 trillion in FY24, Defence Minister Rajnath Singh said on Thursday. He added that defence exports, too, hit a record high in the previous financial year, crossing Rs 24,000 crore, up by nearly 14 per cent from Rs 21,083 crore in FY24. This accomplishment marks a clear shift towards greater self-reliance in defence, with both public and private sectors contributing significantly. The growth has been fueled by initiatives like Aatmanirbhar Bharat, aimed at strengthening domestic capabilities and reducing dependence on foreign imports. State-run enterprises, private manufacturers, and innovative defence startups have all played a role in delivering advanced systems — ranging from tactical missiles and electronic warfare platforms to next-generation combat vehicles. The expansion of the indigenous defence industry is now seen as not only vital to national security but also a key pillar of India's economic and technological progress. Looking ahead, India's defence expenditure could rise significantly, with projections suggesting a possible increase to Rs 32 trillion by the centenary of Independence in 2047. This estimate, presented in a joint report by the Confederation of Indian Industry (CII) and KPMG, emphasises the need for long-term strategic planning. The anticipated growth in defence spending reflects India's intent to modernise its armed forces, adopt emerging technologies, and expand its global role. Key priorities include overhauling aging platforms, investing in cyber and space defence, and developing indigenous innovation in areas such as AI, drones, and advanced surveillance systems. The report – 'Atmanirbhar, Agrani, and Atulya Bharat 2047" – envisions India becoming one of the top defence exporters globally, powered by a robust local ecosystem and strong public-private collaboration. By 2038, the report sees India becoming one of the top-five global exporters of high-quality defence equipment and technology by expanding international partnerships, meeting global standards, and vigorously promoting defence products in international markets. Boost in Defence Exports After Operation Sindoor India's defence exports are poised for accelerated growth following the success of Operation Sindoor, India's precision strikes on terror sites in Pakistan – that showcased the effectiveness of locally developed weaponry. According to DRDO Chairman Dr Samir V Kamat, international interest in Indian defence products has increased substantially due to the systems' demonstrated reliability in realistic operational settings. What sets Indian systems apart, he noted, is that they are now 'battle-tested", a term that adds considerable value in the international arms market. Speaking to reporters at the CII Annual Business Summit 2025, Kamat said countries across Africa, Southeast Asia, and even Europe are exploring Indian alternatives that offer cost-effective, proven performance. India's defence exports have already seen significant growth in the last decade, with the momentum only expected to rise thanks to increasing global demand for dependable, affordable military equipment. Operation Sindoor: Indian Weapons Outperform Chinese Systems A key takeaway from Operation Sindoor was the clear advantage shown by Indian-made weapons over Chinese counterparts, experts have said. The exercise featured systems such as the Akash missile, Pinaka rocket launchers, and domestically built combat helicopters—all of which excelled in precision, speed, and adaptability. Analysts observed that Indian platforms performed better in terms of real-time responsiveness and logistical efficiency. Their modular design, ease of deployment, and interoperability gave them an edge—especially when compared to bulkier and less reliable Chinese systems. These outcomes have elevated the global profile of Indian defence products, making them strong contenders in competitive defence deals and joint development ventures. In his detailed analysis – titled India's Operation Sindoor: A Battlefield Verdict on Chinese Weapons—And India's Victory – defence expert John Spencer described India's military response to the 22 April terror attack in Pahalgam as not merely retaliatory, but as a strategic stress test of India's defence ecosystem, and a moment of reckoning for Chinese military exports. 'India fought as a sovereign power—wielding precision tools it designed, built, and deployed with unmatched battlefield control," he wrote. 'Pakistan fought as a proxy force, dependent on Chinese hardware that was built for export, not for excellence," he added. According to Spencer, the defining feature of India's success in Operation Sindoor was not just military precision—it was total control over the tools of war. A decade of strategic investment under Make in India and Atmanirbhar Bharat had, he wrote, materialised into a self-sufficient, combat-ready arsenal. Women Break Barriers at NDA Women are making their mark in this defence history that India is scripting. In a groundbreaking step for gender equality in India's armed forces, 17 women cadets have graduated from the National Defence Academy (NDA) for the first time in history. The passing out parade on May 30, 2025, marked a major milestone in integrating women into core military roles. These cadets, having undergone the same rigorous training as their male peers, are now set to join the Army, Navy, and Air Force. Their commissioning represents a broader shift in the Indian military's approach to inclusion and reflects a commitment to gender parity in leadership and operational roles. This move aligns India with progressive defence practices worldwide and signals a future where competence, not gender, defines a soldier's role. The developments across India's defence ecosystem point to a powerful narrative of growth, self-sufficiency, and global ambition. Record production levels, strategic foresight in budgeting, rising exports, and institutional inclusivity are converging to redefine India's defence identity. More than just statistics or headlines, these advancements represent a fundamental shift in how India approaches national security. With a clear vision and a strong foundation, India is not just preparing for tomorrow's battles — it's building a sustainable and sovereign defence future. Watch India Pakistan Breaking News on CNN-News18. Get breaking news, in-depth analysis, and expert perspectives on everything from politics to crime and society. Stay informed with the latest India news only on News18. Download the News18 App to stay updated! tags : defence technology Operation Sindoor Location : New Delhi, India, India First Published: May 30, 2025, 11:37 IST News india India's Shining Defence Sector: Production At Record High, Exports Poised To Grow After Op Sindoor
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Business Standard
3 days ago
- Business
- Business Standard
India's defence budget may near Rs 32 trillion by 2047: CII-KPMG report
India's defence budget could rise a little under fivefold to Rs 31.7 trillion in 2047 from Rs 6.81 trillion in 2025-26 (FY26), with defence production increasing over sixfold to Rs 8.8 trillion from Rs 1.46 trillion in FY25, suggest the Defence Industrial Sector Vision 2047 report of the Confederation of Indian Industry (CII) and KPMG India. The report — titled 'Atmanirbhar, Agrani, and Atulya Bharat 2047' — unveiled on Thursday at the CII Annual Business Summit in New Delhi, also estimates India's defence exports to rise to Rs 2.8 trillion in 2047, up nearly twelvefold from Rs 24,000 crore in FY25. Similarly, total research and development (R&D) expenditure could jump from 4 per cent of the defence budget at present to 8-10 per cent, and defence spend could increase from 2 per cent of gross domestic product (GDP) to 4-5 per cent. Terming these figures milestones, the report underlines three conditions that have to be met in the coming years to achieve these. The report notes that achieving the vision of India as a developed nation by 2047, particularly through a strengthened defence sector, faces several roadblocks and challenges: 'Budgetary constraints could limit the necessary investments in modernising the armed forces and developing indigenous military technologies. Additionally, regulatory red tape and procedural quagmire often slow down defence procurement and indigenous R&D initiatives, creating inefficiencies. Dependence on defence imports for critical technologies remains a significant challenge, hindering self-reliance and innovation... Furthermore, there is a shortage of skilled manpower to drive advanced technological developments and manage sophisticated defence systems.' Stating that fostering robust public-private partnerships is necessary, the report argues this remains challenging because the private sector needs incentives and support to enter and sustain in the defence manufacturing domain. 'Intellectual property (IP) rights and technology-transfer issues with foreign collaborators also present obstacles in achieving self-reliance. Addressing these challenges requires strategic planning, increased Budget allocations, streamlined procedures, robust policy frameworks, and fostering a culture of innovation and collaboration between the public and private sectors.' Highlighting India's aspirations to emerge as a leading nation in the global defence hierarchy, the report lists 'strategic vectors' that break down this vision into three specific objectives. First, the report calls for achieving enhanced self-reliance in defence production and capabilities by 2032, by targeting critical areas for comprehensive indigenous development, reducing dependence on foreign suppliers, and fostering innovation through domestic R&D and manufacturing excellence. Second, by 2038, the report sees India becoming one of the top-five global exporters of high-quality defence equipment and technology by expanding international partnerships, meeting global standards, and vigorously promoting defence products in international markets. Third, by 2045, it calls on India to become a world leader in developing and deploying cutting-edge niche technologies across the defence sector, by encouraging collaboration between industry, academia, and government, and driving substantial investments in futuristic R&D.
