India's defense production soared to a record high of ₹1.27 lakh crore in the fiscal year 2023-24, marking a 174% increase from 2014-15. This achievement is a testament to Prime Minister Narendra Modi's 'Make in India' vision becoming a reality. The Ministry of Defense's report highlights that defense exports reached an unprecedented ₹21,083 crore in fiscal 2023-24, a 30-fold increase in a decade, with India supplying equipment to more than 100 countries.
Targeting ₹3 Lakh Crore in Production
India is ambitiously aiming to become a global hub for defense manufacturing, targeting ₹3 lakh crore in defense production by 2029. Additionally, the goal is to raise defense exports to ₹50,000 crore by 2029. The report reveals an increase in the defense budget from ₹2.53 lakh crore in 2013-14 to ₹6.81 lakh crore in 2025-26, demonstrating a reinforced focus on military infrastructure.
Advanced military platforms like the Dhanush artillery gun system, Advanced Towed Artillery Gun System (ATAGS), Arjun Main Battle Tank (MBT), Light Combat Aircraft (LCA) Tejas, Advanced Light Helicopter (ALH), and Akash missile system have driven this production boost. Additionally, indigenous naval assets like aircraft carriers, submarines, frigates, and patrol vessels are integral.
65% Equipment Now Made in India
The report highlights that 65% of defense equipment is now indigenously manufactured. Previously, 65-70% was imported. India's robust defense industrial base includes 16 Defense Public Sector Undertakings, over 430 licensed companies, and approximately 16,000 MSMEs. The report states the private sector contributes close to 21% of the nation's total defense production.
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India's defense exports have increased by 32.5% year-on-year, jumping from ₹15,920 crore in fiscal 2022-23 to ₹21,083 crore in fiscal 2023-24. The export portfolio comprises bulletproof jackets, Dornier (Do-228) aircraft, Chetak helicopters, high-speed interceptor boats, and light torpedoes.
'Made in Bihar' Boots for Russian Army
Additionally, 'Made in Bihar' boots are now part of the Russian military gear, with their soldiers donning these boots on the battlefield. India exports defense equipment to over 100 countries, with the United States, France, and Armenia emerging as top buyers in 2023-24.
The Ministry of Defense's Innovation for Defense Excellence (iDEX) initiative, launched in 2018, has fostered a remarkable ecosystem for innovation. iDEX has been granted ₹1.5 crore for technological advancement, and ₹449.62 crore is allocated to further enhance self-reliance in defense technology.
