India exporting military hardware to over 90 countries; defence production at all-time high: Rajnath Singh


PTI, Sep 25, 2024, 3:13 PM IST

New Delhi: India’s defence production has clocked an all-time high of Rs 1.27 lakh crore in terms of value in 2023-24 and it is now exporting weapons and military hardware to more than 90 friendly countries, Defence Minister Rajnath Singh said on Wednesday.

Indian armed forces are now using weapons and platforms manufactured on Indian soil and the country is rising on the global defence industrial landscape, the minister said in a post on ‘X’ on the 10th anniversary of the NDA government’s ‘Make in India’ programme.

The government under Prime Minister Narendra Modi’s “astute leadership” introduced the ‘Make in India’ programme with a vision to make the country self-reliant in every domain, Singh said.

“Ten years since then, many reforms have been made in every sector including the defence sector. India is rising on the defence industrial landscape of the world,” he said.

“Today, Indian Armed Forces are using weapons and platforms, which are manufactured on our own soil and we are also exporting defence items to more than 90 friendly foreign countries,” the minister added.

In the last few years, the government has taken a series of measures to promote the domestic defence industry.

The focus has been to boost domestic defence manufacturing and bolster military preparedness especially in areas along the border with China.

India’s defence exports crossed the Rs 21,000 crore mark for the first time in 2023-24 and the defence ministry has set a target of increasing it to Rs 50,000 crore in the next five years.

India is one of the largest importers of arms globally.

According to estimates, Indian armed forces are projected to spend around Rs 10,87,056 crore in capital procurement by 2029.

The government wants to reduce dependence on imported military platforms and has decided to support domestic defence manufacturing.

The defence ministry has set a goal of a turnover of Rs 1.75 lakh crore in defence manufacturing in the next five years.

In May 2020, the government announced increasing the FDI limit in the defence sector from 49 per cent to 74 per cent under the automatic route.

The government allows 100 per cent FDI for specific cases.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Centre meeting floor leaders of political parties on Sunday ahead of Parliament Session

21 women among 288 winning candidates in Maharashtra; only 1 from oppn side

Main accused in Delhi Police constable murder shot dead in Sangam Vihar

COP29: India rejects new USD 300 billion climate finance deal

Maharashtra Assembly Elections 2024 | Congress chief Nana Patole scrapes through in Sakoli, wins by 208 votes

Waqf land dispute: Kerala CM assures no body will be evicted from Munambam

Government launches Haj Suvidha App 2.0 for ease of pilgrims

Related Articles More

Centre meeting floor leaders of political parties on Sunday ahead of Parliament Session

Sena vs Sena: Shinde’s party defeats Uddhav’s outfit in 36 constituencies, loses in 14

21 women among 288 winning candidates in Maharashtra; only 1 from oppn side

Main accused in Delhi Police constable murder shot dead in Sangam Vihar

Maharashtra Assembly Elections 2024 | Congress chief Nana Patole scrapes through in Sakoli, wins by 208 votes

MUST WATCH

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation


Latest Additions

Centre meeting floor leaders of political parties on Sunday ahead of Parliament Session

Charmadi Ghat highway set for widening: Work likely to begin in January 2025

Sena vs Sena: Shinde’s party defeats Uddhav’s outfit in 36 constituencies, loses in 14

21 women among 288 winning candidates in Maharashtra; only 1 from oppn side

Myntra pilots foray into quick commerce with ‘M-Now’ in select locations of Bengaluru

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.