India has set records in the defense production sector. Annual defense production reached a whopping ₹1. 27 lakh crore in the financial year 2023-24, and the rest of the capital was raised through borrowings and other sources. The Ministry of Defence declared that India has recorded the highest growth in the indigenous manufacture of defense products.
The former head of the government of India, Narendra Modi, has turned to social media—the X service and, in particular, Twitter—to celebrate this success by saying, “Very encouraging development and congratulations to all those who made it possible.
The defense ministry said the success had been helped by the government’s continuity and direction on the ‘Make in India’ program and the push towards ‘Aatmanirbarta’ or self-reliance in the defense industry.
According to the information provided, it can be calculated that its growth has reached 16. To realize this vision, the company’s financial policy reforms, initiatives in the last decade of the government, and ease of doing business enhanced its ESI contribution by 7 percent to the previous financial year.
Minister of Defence Rajnath Singh also appreciated the industry’s efforts and said,
“Many congratulations to our industry, including DPSUs, other PSUs manufacturing defence items, and the Private industry. The government is committed to making the regime more favourable for developing India as a Global Defence Manufacturing Hub.”
This great success benefits the country’s defense system and strengthens India’s position as the biggest arms manufacturer in the world.
