Defence Minister Rajnath Singh praised India’s significant achievements in defence production under the Make in India initiative led by Prime Minister Narendra Modi. In a statement, he announced that India had recorded its highest-ever growth in the value of defence production during the financial year 2023-24.
“The value of defence production soared to Rs. 1,26,887 crore in the fiscal year 2023-24, marking a remarkable 16.8% increase from the previous year,” stated Defence Minister Rajnath Singh. He attributed this success to the combined efforts of Defence Public Sector Undertakings (DPSUs), other Public Sector Undertakings (PSUs), and private industry involved in manufacturing defence items.
Singh extended congratulations to the defence industry for this achievement and reaffirmed the government’s commitment to fostering a conducive environment for further growth. “The Government is dedicated to creating a more supportive regime to propel India as a leading global defence manufacturing hub,” he affirmed.
India’s robust growth in defence production reflects ongoing efforts to enhance indigenous capabilities and reduce dependency on imports. The Defence Minister’s announcement underscores the strategic importance of advancing domestic manufacturing under the Make in India initiative, aimed at bolstering national security and economic growth.
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