India's Defence Production Hits Record High in 2023-24

India's annual defence production excelled in 2023-24, reaching a record Rs 1.27 lakh crore. This achievement, driven by the Make in India program, underscores India's push towards self-reliance and global leadership in defence manufacturing.

India's annual defence production soared to unprecedented levels, reaching an impressive Rs 1.27 lakh crore in 2023-24, Defence Minister Rajnath Singh announced on Friday. The previous fiscal year saw a production value of Rs 1,08,684 crore.

Prime Minister Narendra Modi lauded the accomplishment, attributing it to the 'Make in India' program and ongoing government initiatives. 'Compliments to all those who have contributed to this feat. We are fully committed to nurturing a supportive environment to further enhance our capabilities and establish India as a leading global defence manufacturing hub,' Modi said. He emphasized that this milestone bolsters national security and advances India's self-reliance goals.

The Ministry of Defence highlighted the significant growth in indigenous production, noting a 16.7 percent increase over the previous year. The combined efforts of Defence Public Sector Undertakings (DPSUs), other public sector units, and private companies played a crucial role in this achievement, bolstered by policy reforms and ease of doing business measures implemented by the government over the past decade.

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