The country’s defence exports have surged from Rs 686 crore in FY 2013-14 to an all-time high of ₹21,083 crore in FY 2023-24, a 30-fold increase over the past 10 years, the government said.
Photo : PTI
Centre has said that India’s defence production has increased at an extraordinary pace since the government launched the ‘Make in India’ initiative, with the production reaching a record Rs 1.27 lakh crore in FY 2023-24. The government said India’s defence production reached Rs 1.27 lakh crore in FY 2023-24, which was a 174% rise since 2014-15 “driven by the Make in India initiative”.
In an official press release, the Ministry of Defence said its exports hit a record ₹ 21,083 crore in FY 2023-24, expanding 30 times in a decade, with exports to more than 100 countries. “Initiatives like iDEX and SAMARTHYA are driving technological advancements in AI, cyber warfare, and indigenous weapon systems,” it added.
The ministry said the country is aiming for ₹3 lakh crore in production, with ₹50,000 crore in exports by 2029. It said the dream of becoming a global manufacturing hub would be fulfilled as 65% of defence equipment is now manufactured domestically. The government called this a “significant shift from the earlier 65-70% import dependency, showcasing India’s self-reliance in defence”.
The country’s defence exports have surged from Rs 686 crore in FY 2013-14 to an all-time high of ₹21,083 crore in FY 2023-24, a 30-fold increase over the past 10 years, the government said.
