Prime Minister Narendra Modi praised the significant achievement of the defence sector in India, with the Ministry of Defence reporting the highest-ever growth in production for 2023-24. This milestone, as highlighted by PM Modi, will not only bolster the country’s security but also contribute to India’s self-reliance. The announcement comes after Defence Minister Rajnath Singh stated that India reached a record high annual defence production of approximately ₹1.27 lakh crore in the fiscal year 2023-24, showcasing the success of the Make in India initiative.
PM Modi commended all those involved in this accomplishment and reiterated the government’s commitment to fostering an environment conducive to enhancing India’s defence capabilities. The goal is to establish the country as a prominent global defence manufacturing hub, thereby strengthening the security apparatus and driving self-sufficiency.
The Ministry of Defence emphasized that the surge in indigenous defence production value is attributed to the effective implementation of government policies and initiatives over the past decade. Both Defence Public Sector undertakings (DPSUs) and private companies have contributed to this growth, reflecting a 16.7% increase over the previous fiscal year.
Minister Rajnath Singh acknowledged PM Modi’s leadership in the Make in India initiative, praising the efforts of industry players, both public and private. The government aims to create a conducive environment for India to emerge as a premier Global Defence Manufacturing Hub.
Additionally, the defence ministry highlighted a significant rise in defence exports, which reached a record high of Rs 21,083 crore in FY24, showing a substantial increase compared to the previous fiscal year. The government increased the defence budget to Rs 6.21 lakh crore for 2024-25, indicating a 4.72% hike from the previous year’s allocation, underscoring the continued commitment to bolstering India’s defence capabilities.
Moreover, PM Modi recently convened a high-level review meeting on Defence Research and Development, emphasizing the importance of accountability in Indian defence planning. The meeting focused on eradicating cost overruns and project delays while concentrating on realizing the vision of ‘Atmanirbhar Bharat’ in defence manufacturing. The review highlighted the need for a strategic long-term approach towards defence production and emphasized the significance of optimizing existing platforms before considering new acquisitions.
The central concern was on the accountability for cost overruns, delays, and accidents involving high-value platforms, urging the armed forces to prioritize efficiency and effectiveness in defence projects. The PM’s review coincided with a critical report submitted to Defence Minister Rajnath Singh, outlining deficiencies in Defence Research and Development that need urgent reform.
The report underscored the need for a significant overhaul of DRDO, enhanced cooperation between stakeholders in defence research, and a cohesive approach to achieving self-reliance in defence production. The recommendations focus on fostering synergy between DRDO, armed forces, academia, and the private sector to propel India towards becoming a technologically advanced and self-reliant defence manufacturing powerhouse.