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Defence budget at record ₹7.85 lakh crore, Rajnath Singh tells MPs’ modernisation panel

The Consultative Committee met in Jaisalmer; ₹2.19 lakh crore of the 2026-27 outlay is earmarked for modernisation and capital procurement.

By BDT News Desk

Published 3 Nov 2026, 7:50 PM IST · 1 min read

Raksha Mantri chairs meeting of Consultative Committee of Ministry of Defence on ‘Modernisation of Indian Defence Forces’ in Jaisalmer
Raksha Mantri chairs meeting of Consultative Committee of Ministry of Defence on ‘Modernisation of Indian Defence Forces’ in Jaisalmer Photo: PIB

Defence Minister Rajnath Singh said India aims for defence production of ₹3 lakh crore and defence exports of ₹50,000 crore by 2029, at a Consultative Committee meeting in Jaisalmer.

Singh chaired the meeting of the Defence Ministry's Consultative Committee on "Modernisation of Indian Defence Forces" on 3 November. It discussed security challenges, warfare trends and the need for a technologically empowered, agile military.

Figures he cited

  • The defence budget for 2026-27 is a record ₹7.85 lakh crore, including ₹2.19 lakh crore for capital acquisition.
  • Defence production rose from ₹46,429 crore in 2014-15 to a record ₹1.78 lakh crore in 2025-26.
  • Defence exports, below ₹2,000 crore in 2014, are now about ₹40,000 crore.

Focus areas

The meeting highlighted capability development, tri-service jointness, indigenous manufacturing with more participation by industry, start-ups and academia, and emerging technologies including AI, autonomous and unmanned systems, cyber, space and electronic warfare. It also covered defence research collaboration among the forces, DRDO, public-sector units, industry and academia, and clear milestones for implementation.

Photos

Photo: PIB

Photo: PIB

Photo: PIB

Photo: PIB

Source: official release by the Ministry of Defence, issued through the Press Information Bureau, Government of India (03 NOV 2026 1:08PM by PIB Delhi). Read the full official text: Raksha Mantri chairs meeting of Consultative Committee of Ministry of Defence on ‘Modernisation of Indian Defence Forces’ in Jaisalmer.

How we verified this

Verified

Every fact, figure and quotation is taken from the official PIB release (Release ID 2331955) issued by the Ministry of Defence on 03 NOV 2026 1:08PM by PIB Delhi; checked against the source on publication. Story written by BDT from that release; no outside facts added.

Fact-checked by Hemant Sharma on 3 Nov 2026, 7:50 PM IST.

Sources

  1. 1.Raksha Mantri chairs meeting of Consultative Committee of Ministry of Defence on ‘Modernisation of Indian Defence Forces’ in Jaisalmer — Press Information Bureau, Government of India

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