In a historic achievement, India's defence production has surpassed the Rs 1 lakh crore mark for the first time, marking an extraordinary tenfold surge since the 2016-17 fiscal year.
According to the Ministry of Defence, exports surged to an unprecedented level of approximately Rs 16,000 crore in the fiscal year (FY) 2022-23.
This marks an impressive increase of nearly Rs 3,000 crore compared to the previous fiscal year, showcasing a remarkable growth of over 10 times since the fiscal year 2016-17.
This milestone underscores India's robust growth in the defence sector, positioning it as a major global player with exports to over 85 countries and active participation from 100 companies.
A pivotal moment unfolded during the 'Swavlamban 2.0' session when Defence Minister Rajnath Singh revealed the fifth positive indigenisation list, shining a spotlight on 98 items designated for local sourcing.
Also, a record 75 per cent — around Rs 1 lakh crore of the defence capital procurement budget was earmarked for the domestic industry in FY 2023-24, up from 68 per cent in FY 2022-23.
The 14th Aero India event witnessed the grand inauguration of the HAL Helicopter Factory in Tumakuru, Karnataka, inaugurated by Prime Minister Narendra Modi.
This state-of-the-art facility, celebrated as India's largest helicopter manufacturing plant, is poised to roll out light utility helicopters.
In a significant stride, the Indian Air Force welcomed the first twin-seater light combat aircraft 'Tejas,' with HAL securing a noteworthy order for 83 light combat aircraft.
The Defence Acquisition Council further greenlit proposals exceeding Rs 3.50 lakh crore in 2023, emphasising a focus on enhancing operational readiness.
Concurrently, the Border Roads Organisation made a substantial contribution by dedicating 118 infrastructure projects to the nation.
Adding a progressive touch, the Regiment of Artillery actively embraced gender inclusion by commissioning 10 female officers in 2023.
This collective progress showcases India's decade-long growth trajectory in the defense sector, setting the stage for continued advancements and a resilient defence industry.
Nayan Dwivedi is Staff Writer at Swarajya.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!