Ministry of Defence has achieved the highest-ever growth in indigenous defence prodcution in value terms during Financial Year 2023-24. India’s Defence production has achieved the highest growth of approx Rs. 1.27 lakh crores.
The defence production increased by 16.8% over the previous FY year, THE VALUE OF defence production in FY 2022-23 was Rs. 1,08,684 crore; and 60% increase since 2019-20. Of the total value of production in 2023-24, about 79.2% has been contributed by DPSUs/other PSUs and 20.8% by the private sector. The data shows that in terms of absolute value, both DPSUs/PSUs and private sector have recorded a steady growth in defence production.
Raksha Mantri Shri Rajnath Singh through a post on X stated that the ‘Make in India’ programme is crossing new milestones, year after year, under the leadership of Prime Minister. He voiced the Government’s unwavering resolve to develop India as a leading global defence manufacturing hub.
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