India’s annual defense production has gotten to a record high of nearly INR 1.27 lakh crore in 2023-24 as against Rs 1,08,684 crore in the last fiscal, the Minister for Defence, Rajnath Singh, announced on Friday. Pointing to the total order of the Make in India program, Singh underlined the government’s intention to promote India as a world hub of defense production.
In this regard, the Ministry of Defense, in a statement, said that such had been made possible by the correct formulation and realization of the government policies and programs relating to self-reliance (Aatmanirbharta) under the leadership of Prime Minister Narendra Modi. The increase in Indigenous defense production set a 16.7% increase from the previous year, which was claimed to be the highest number ever recorded.
The record achievement could only have been accomplished due to the dedication of India’s DPSUs, other PSUs, and private industries headed by Singh. Stressing the need for the Make in India program, he said that this program is moving ahead with vigor and registering better performances every passing year.
As per the defense ministry release, DPSUs and other PSUs have indicated 79.2% of the total defense production value in 2023-24, while 20.8% was contributed by private companies. The smooth distribution of this topic depicts the relationship between government agencies and corporate organizations in the development of India’s defense system.
It is relevant to mention here that Singh, in his tweet on the social media platform, acknowledged the importance of this feat in boosting India’s defence manufacturing capabilities. He once again reaffirmed the government’s intentions to strengthen the favourable climate for defense manufacturing, with the intent of making India more or less dependent on imports and more capable in the global market.
This increase in the sector also indicates India’s strategic vision to bring more development and capacity to its indigenization, decreasing the rate of imports and enhancing the sector’s technological improvement in defense systems. Now that the nation wants to build high on defence production and manufacturing, there are some measures to sustain this growth path and entrench India firmly on the global defense map.
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