India’s defense production in FY 2023-24 has reached a record level of Rs 1.27 lakh crore, which is 174 percent higher than in 2014-15. This figure seems to realize Prime Minister Narendra Modi’s ‘Make in India’ dream. According to a report by the Ministry of Defense, defense exports in FY 2023-24 are also going to reach a record 21,083 crore, which will increase by 30 times in a decade. Under this, India sends defense equipment to more than 100 countries.
Target to increase production to Rs 3 lakh crore
India now aims to bring defense production to Rs 3 lakh crore by 2029 and its goal is to become a global defense production center. Additionally, its goal is to increase defense exports to Rs 50,000 crore by 2029. The report said that increasing the defense budget from Rs 2.53 lakh crore in 2013-14 to Rs 6.81 lakh crore in 2025-26 reflects the focus on strengthening the military infrastructure in the defense budget.
The increase in defense production is due to the development of advanced military platforms, including a bow article gun system, Advanced Todd Artillery Gun System, Chief War Tank (MBT) Arjun, Light Combat Aircraft (LCA) Tejas, Advanced Light Helicopter (ALH), Akash Missile System. Apart from this, naval assets such as indigenous aircraft, submarines, frigates and patrol ship are also part of it.
Now 65% of equipment are manufactured in the country itself.
The report quoted the Ministry of Defense as saying that now 65 percent of the defense equipment is manufactured domestically. But earlier 65-70 percent equipment were purchased from abroad. India’s strong defense industrial base includes 16 DPSUs, over 430 licensed companies and around 16,000 MSMEs. According to the report, the private sector contributes about 21 percent to the country’s total defense production.
India’s defense exports have increased from 32.5% year-on-year to Rs. 15,920 crore in FY 2022-23 to Rs 21,083 crore in FY 2023-24. India’s export portfolio includes bulletproof jackets, dornier (DO-228) aircraft, Chetak helicopter, rapid interceptor boats and light weight torpedo.
‘Made in Bihar’ shoes in Russian Army
Apart from this, now ‘Made in Bihar’ shoes are part of the equipment of the Russian army and soldiers descend into the battlefield wearing shoes made in Bihar. India now exports defense equipment to more than 100 countries, with the US, France and Armenia as top buyers in 2023-24.
An outstanding ecosystem has also been created for innovation through the Innovation for Defense Excellence (Idex) launched by the Ministry of Defense in 2018. Idex has been given a grant of Rs 1.5 crore for the development of new technology. Idex has been allocated Rs 449.62 crore to increase self -reliance in defense technology.
