Union Budget: India’s Indigenous Defence Production Hits Rs 1.27 Lakh Crore, Reports MoD

New Delhi, Feb 1 (NationPress) In alignment with Prime Minister Narendra Modi's 'Atmanirbhar Bharat' initiative, the Ministry of Defence (MoD) announced on Saturday that India's domestic defence production has achieved a remarkable Rs 1.27 lakh crore.

According to the ministry's report, FY 2023-24 saw India's domestic defence production soar to Rs 1.27 lakh crore, representing a record rise of roughly 174 percent from Rs 46,429 crore in 2014-15.

The MoD emphasized that since 2014, the defence sector has experienced a significant transformation, shifting from a predominantly import-based military to one that prioritizes self-reliance and indigenous manufacturing.

Furthermore, the defence budget, which was Rs 2,53,346 crore in 2013-14, has dramatically increased to Rs 6,21,940.85 crore in 2024-25, underscoring a strong commitment to enhancing the country’s defence capabilities.

The growth of India's defence manufacturing industry has become a vital aspect of the national economy, as noted by the ministry.

The government has actively fostered domestic production and decreased dependence on foreign procurement through the 'Make in India' initiative and various policy reforms.

This strategic shift is a core element of India's comprehensive vision for achieving Atmanirbharta (self-reliance) in defence, positioning the nation as an emerging centre for advanced military technology and equipment manufacturing.

The MoD stated that India is on course to reach a target of Rs 1.75 lakh crore in defence production during the ongoing fiscal year.

India also aims to achieve Rs 3 lakh crore in defence production by 2029, further cementing its status as a global defence manufacturing hub. Defence exports have surged from Rs 1941 crore in FY 2014-15 to Rs 21,083 crore in FY 2023-24, showcasing a significant increase in export value.

A remarkable 32.5 percent growth in defence exports was recorded compared to the previous fiscal year 2022-23, which stood at Rs 15,920 crore.

Additionally, defence exports have expanded 21 times, increasing from Rs 4,312 crore in the 2004-14 decade to Rs 88,319 crore in the 2014-24 decade, reflecting India's growing role in the global defence market.

Driven by policy reforms, initiatives to improve the ease of doing business, and a focus on self-reliance, India now exports to over 100 nations.

The top three destinations for India's defence exports in 2023-24 were the U.S., France, and Armenia. The target for 2029 is to elevate defence exports to ₹50,000 crore.

India's export portfolio includes advanced items such as bulletproof jackets, Dornier (Do-228) aircraft, Chetak helicopters, fast interceptor boats, and lightweight torpedoes.

A notable achievement was the adoption of 'Made in Bihar' boots in the Russian Army's arsenal, showcasing India's high manufacturing standards on the global defence stage.

With a record production of Rs 1.27 lakh crore in defence and exports hitting Rs 21,083 crore in FY 2023-24, India has illustrated its dedication to minimizing import reliance while enhancing its global market presence.

As the nation sets its sights on Rs 3 lakh crore in defence production and ₹50,000 crore in exports by 2029, these accomplishments affirm India's emergence as a trustworthy defence ally on the world stage.