News Brief

Make In India Propels Defence Production To Record High Of Rs 1.26 Lakh Crore In FY24 — All You Need To Know

Kuldeep Negi

Jul 05, 2024, 12:57 PM | Updated 12:57 PM IST

India's BrahMos Supersonic Cruise Missile (Pic Via Twitter)
India's BrahMos Supersonic Cruise Missile (Pic Via Twitter)

India has achieved its highest-ever growth in defence production value during the financial year 2023-24, Defence Minister Rajnath Singh announced on Friday (5 July).

Singh highlighted the substantial progress of the Make in India initiative, which, he noted, has been surpassing new milestones.

The Make in India programme is crossing new milestones, year after year, under the leadership of PM Shri Narendra Modi," Singh said in a post on X.

"India has registered the highest ever growth in the value of defence production in 2023-24. The value of production has reached to Rs. 1,26,887 crore in 2023-24 which is 16.8% higher than the value of production of previous financial year," he added.

He extended his congratulations to the Indian defence industry, including public sector undertakings and private industry players involved in defence manufacturing for the achievement.

"The Government is committed to create more conducive regime for developing India as leading Global Defence Manufacturing Hub," he added.

Earlier in April, Singh has announced that India's defence exports hit an all-time high of Rs 21,083 crore in the financial year 2023-24, marking a 32.5 per cent growth compared to the previous year.

India is exporting its domestically manufactured defence products to more than 85 countries, highlighting the strength of its defence industry.

With over 100 firms actively involved in exporting defence products, India has shipped sophisticated defence systems like 155 mm Advanced Towed Artillery Guns, Brahmos Missiles, and others to various nations.

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Kuldeep is Senior Editor (Newsroom) at Swarajya. He tweets at @kaydnegi.

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