India records highest-ever defence production & exports

New Delhi, Nov 20: Press Information Bureau reported that India has achieved its highest-ever defence production of `1.54 lakh crore in FY 2024-25, marking a major boost to Defence Atmanirbharta under the Modi government.

According to the press release, indigenous defence production reached `1,27,434 crore in FY 2023-24, a sharp 174% rise from `46,429 crore in 2014-15.

Defence exports also hit a record `23,622 crore this year, up from less than `1,000 crore in 2014, with India now supplying defence equipment to over 100 countries. The PIB noted that over 16,000 MSMEs are emerging as key contributors to self-reliance, while 788 industrial licences have been issued to 462 companies, expanding the defence manufacturing base. Backed by policy reforms, higher budgets and ease of doing business, the government aims to achieve `3 lakh crore worth of defence production and `50,000 crore in exports by 2029, positioning India as a global defence manufacturing hub.