NEW DELHI: India's annual defence production has "soared to an all-time high figure" of over Rs 1.5 lakh crore in the 2024-25 financial year, defence minister Rajnath Singh said on Saturday, terming the upward trajectory a clear indicator of the country's strengthening defence industrial base.
"These numbers indicate a robust 18% growth over the previous fiscal's output of Rs 1.2 lakh crore, and a staggering 90% increase since 2019-20, when the figure was Rs 79,071 crore," Singh said.
The landmark has been achieved due to the efforts of MoD's deptt of defence production and all stakeholders, including defence PSUs, other public sector manufacturers and private industry. Defence exports have also risen, reaching Rs 23,622 crore in 2024-25. Defence PSUs and other PSUs accounted for 77% of total production, while private sector contributed 23%, up from 21% in 2023-24. "Share of private sector reflects its growing role in country's defence ecosystem," an official said.
Both segments of the industry have shown consistent year-on-year growth due to policy reforms, improved ease of doing business and a strategic focus on indigenisation over the past decade. "Emphasis on reducing import dependence and building a defence industrial complex that caters to domestic needs as yielded positive results," he added.
"These numbers indicate a robust 18% growth over the previous fiscal's output of Rs 1.2 lakh crore, and a staggering 90% increase since 2019-20, when the figure was Rs 79,071 crore," Singh said.
The landmark has been achieved due to the efforts of MoD's deptt of defence production and all stakeholders, including defence PSUs, other public sector manufacturers and private industry. Defence exports have also risen, reaching Rs 23,622 crore in 2024-25. Defence PSUs and other PSUs accounted for 77% of total production, while private sector contributed 23%, up from 21% in 2023-24. "Share of private sector reflects its growing role in country's defence ecosystem," an official said.
Both segments of the industry have shown consistent year-on-year growth due to policy reforms, improved ease of doing business and a strategic focus on indigenisation over the past decade. "Emphasis on reducing import dependence and building a defence industrial complex that caters to domestic needs as yielded positive results," he added.
You may also like
'US-Israel committing genocide': Grok suspended over Gaza comments? Musk calls it 'dumb error'
Union Ministers, Delhi CM flag off Har Ghar Tiranga Bike Rally ahead of I-Day
Average age of South Korean CEOs falls below 60 for 1st time: Data
Italian orienteering athlete dies after collapse at World Games
US President Donald Trump Deploys National Guard To Washington, Invokes Home Rule Act
