Rajnath Singh

Money Moves

Co-chaired 6th India-France Defence Dialogue

India has depended on Russia for weapons since the Cold War. That dependence peaked at 76% of arms imports in 2009-2013 but has now fallen to 36%—while France has surged to become India's second-largest supplier, accounting for 33% of defense purchases. On February 17, 2026, the two countries signed an agreement to manufacture HAMMER precision-guided missiles in India, marking a shift from France selling finished weapons to both nations building them together.

Updated Feb 17

New Capabilities

Chaired Defence Acquisition Council approving the $8.7B deal

India's Defence Acquisition Council approved an $8.7 billion arms package from Israel in January 2026—1,000 SPICE-1000 precision bomb kits that can hit targets 125 kilometers away in GPS-jammed environments, plus air-to-air missiles, loitering munitions, radars, and networked command systems. The deal cements India as Israel's largest defense customer, accounting for 34% of Israeli exports from 2020-2024. Within days, reports emerged that India is also acquiring Air LORA ballistic missiles (400-kilometer range), Ice Breaker cruise missiles (300-kilometer range), and additional Rampage missiles, with full technology transfer agreements enabling domestic production.

Updated Jan 31

Rule Changes

Met with EU High Representative Kaja Kallas to discuss defence industry cooperation

India and the European Union became strategic partners in 2004. Twenty-one years later, at the 16th EU-India Summit on January 27, 2026, they signed a Security and Defence Partnership that makes India the third Asian country—after Japan and South Korea—to gain formal access to European defence initiatives. The two sides also concluded negotiations on a historic free trade agreement covering 2 billion people and representing a combined market of $27 trillion. Once the FTA completes legal vetting and enters force in 2027, Indian firms will be able to participate in the EU's €150 billion SAFE rearmament programme.

Updated Jan 30