India’s defence production hit record high of Rs.1.27 crore in 2023-24, with country exporting military hardware to over 90 nations. The mile stone aligns with the 10th anniversary of ‘Make in India’ programme under the NDA government.

Started under Prime Minister Narendra Modi, this initiative aimed to achieve self-reliance across various sectors, including defence. Rajnath Singh noted, “Ten years since then, many reforms have been made in every sector including the defence sector. India is rising on the defence industrial landscape of the world.”

India’s Defence manufacturing capabilities

In recent years, several measures were taken to promote defence manufacturing, focusing on enhancing military preparedness, particularly along the China border.

Defence exports surpassed Rs. 21,000 crore for the first time in 2023-24. The ministry targets increasing this to Rs. 50,000 crore within five years.

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India remains one of the largest arms importers globally. The Indian armed forces are expected to spend about USD 130 million on capital procurement by 2029.

To reduce reliance on imported military platforms, the government supports domestic defence manufacturing.

The defence ministry aims for for a turnover of USD 25 billion (1.75 lakh crore) in defence manufacturing within 5 years.

In May 2020, the government raised the FDI limit in the defence sector from 49% to 74% under the automatic route, allowing 100% FDI in specific cases.

PRIME MINISTER’S STATEMENT ON INDIA’S DEFENCE CAPABILITIES

“India is attaining ‘Aatmanirbharta’ (self-reliance) in defence and is gradually emerging as a global manufacturing hub of military equipment due to measures taken by the government in the last few years, Prime Minister Narendra Modi said on INDIA’S DOMESTIC DEFENCE MANUFACTURING CAPABILITIES.

“I can say happily that the country which procured even small items from abroad is now gradually exporting defence hardware to many countries,” Modi said.