India's Defence Production Records 167% Growth Since 2014-15 Hits Rs 1.27 Lakh Cr

(MENAFN- KNN India) New Delhi, Mar 25 (KNN) India has achieved a remarkable milestone in defence production, recording a historic high of Rs 1.27 lakh crore in fiscal year 2023-24, signaling a dramatic shift from decades of foreign dependency to becoming a robust, self-sufficient defence manufacturing powerhouse.

This transformative journey reflects a strategic commitment to indigenous production, technological innovation, and economic empowerment.

The growth trajectory is exemplified by an extraordinary 174 percent increase in defence production value since 2014-15, rising from Rs 46,429 crore to the current record level.

This surge has been systematically driven by government initiatives like "Make in India" and a focused approach to developing advanced military platforms across multiple domains, including artillery systems, aircraft, missiles, naval assets, and sophisticated electronic systems.

A critical metric highlighting this transformation is that 65 percent of defence equipment is now manufactured domestically, a substantial reversal from the previous 65-70 percent import dependency.

The ecosystem supporting this change is robust, comprising 16 Defence Public Sector Undertakings, over 430 licensed companies, and approximately 16,000 Micro, Small, and Medium Enterprises (MSMEs) contributing to indigenous production capabilities.

The defence export performance has been equally impressive, witnessing a 30-fold increase over the past decade. Exports have surged from Rs 686 crore in fiscal year 2013-14 to an unprecedented Rs 21,083 crore in 2023-24.

The country now exports defence equipment to over 100 countries, with the United States, France, and Armenia emerging as top buyers, demonstrating India's growing global defence manufacturing credibility.

Strategic initiatives like Innovations for Defence Excellence (iDEX) have been instrumental in fostering a culture of technological innovation.

Since its launch in 2018, the program has engaged startups, MSMEs, and research institutions, providing grants up to Rs 1.5 crore for developing cutting-edge defence technologies.

The recently introduced ADITI scheme further supports critical technological domains such as artificial intelligence, quantum technology, and autonomous weapons systems.

Government policies have systematically reduced barriers to defence manufacturing, including liberalising Foreign Direct Investment policies, extending export authorisation validity, and streamlining industrial licensing procedures.

The defence budget's substantial increase from Rs 2.53 lakh crore in 2013-14 to Rs 6.81 lakh crore in 2025-26 underscores the national commitment to military modernisation and self-reliance.

Looking forward, India has ambitious targets, aiming to achieve Rs 3 lakh crore in defence production and Rs 50,000 crore in defence exports by 2029.

These goals reflect not just economic aspiration but a strategic vision of establishing India as a global defence manufacturing hub while simultaneously strengthening national security infrastructure.

The journey from import dependency to indigenous manufacturing represents more than an economic transformation. It symbolises India's technological maturity, strategic autonomy, and emerging global economic significance in the defence manufacturing landscape.

(KNN Bureau)

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