India's Defence Budget Set Surge Fivefold by 2047

India’s defence budget is projected to soar to Rs 31.7 lakh crore by 2047, a nearly fivefold increase from the Rs 6.8 lakh crore allocated for the financial year 2024-25, according to a joint report by the Confederation of Indian Industry (CII) and KPMG India titled “Atmanirbhar, Agrani, and Atulya Bharat 2047.” This ambitious growth is expected to position India as the world’s third-largest military spender, trailing only the United States and China.

• India’s Defence Budget to Surge to Rs 31.7 Lakh Crore by 2047, Says CII-KPMG Report
• India Eyes Global Defence Power Status with Fivefold Budget Jump by 2047
• From Rs 6.8L Cr to Rs 31.7L Cr: India Sets Sights on Top 3 Military Spender Spot by 2047

The goal is to supercharge India’s defence industry, with production expected to jump from Rs 1.6 lakh crore today to a massive Rs 8.8 lakh crore by 2047. Exports are set to skyrocket too, from Rs 30,000 crore to Rs 2.8 lakh crore, potentially making India a top-five global defence exporter by 2038. To pull this off, the government plans to funnel more cash into big projects—think new bases and cutting-edge weapons—boosting their share from 27% to 40% of the budget. They’re also doubling down on innovation, ramping up research and development funding from 4% to 8-10%.

But it’s not all smooth sailing. India still depends on foreign tech, needs more skilled workers, and has to stretch its budget carefully. Tensions along the borders could also force a focus on quick fixes. The report says stronger teamwork with private companies and smarter policies are key to making India self-reliant in defence.

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We’re already seeing progress with cool homegrown projects like the Akash missile system and Operation Sindoor. With initiatives like Make in India picking up steam, India’s gearing up to be a major player on the global defence stage by 2047.