Defence production hits Rs 1.27 crore in fiscal 2023-24, with exports crossing Rs 21,000 crore
According to the ministry, defense exports reached a record 210,83 crore rupees in the fiscal year 2023-24, expanding 30 times in a decade and exporting to 100 countries.
According to the ministry’s actions, initiatives such as Made in India can develop advanced military platforms, including Dhanush Artillery Gun System, Advanced Towed Artillery Gun System (ATAGS), Main Fighting Vehicles (MBT) Arjun, Light Professional Vehicles, High Mobility, High Mobility Vehicles, Light Fighter (LCA) TEJAS (LCA) TEJAS growth has grown.
Advanced light helicopters (ALH), light utility helicopters (LUH), Akash missile system, weapon positioning radar, 3D tactical control radar and software-defined radio (SDR) as well as naval assets such as naval, destroyer, indigenous airlines, submarines, faster movements, fast carnival parties, fast driving, also by armed groups, off-road and its competitors, also by armed groups, armed groups, fast, and so has also achieved growth.
Once relied on foreign suppliers, the country is now a rising force in the indigenous manufacturing industry, shaping its military power through indigenous capabilities, the release added.
The ministry said these strategic policies have fueled this momentum and encouraged private participation, technological innovation and the development of advanced military platforms. The surge in the defence budget, from Rs 2.53 lakh crore in 2013-14 to Rs 6.81 lakh crore in 2025-26, underlines the nation’s determination to strengthen its military infrastructure.According to the ministry, 65 per cent of defence equipment is now manufactured domestically, a significant shift from the earlier 65-70 per cent import dependency, showingcasing India’s self-reliance in defence.
The strong defense industrial base includes 16 DPSUs, more than 430 licensed companies and approximately 16,000 MSMEs, enhancing indigenous production capacity.
According to the ministry, the private sector plays a crucial role, contributing 21% of defense production, promoting innovation and efficiency.
The Ministry of Defense further added that India targeted Rs 3 billion in 2029, strengthening its position as a global defence manufacturing hub.
