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Achieving a milestone, India’s defence production crosses Rs. 1 lakh crore

For the first time ever, India’s defence production crosses Rs. 1 lakh crore milestone, announced the Ministry of Defence on May 19. In a statement, it informed that the value currently stands at Rs 1,06,800 crore and will go further up once the data is received from the remaining private defence industries.

India has made significant efforts in the field of defence production and has been working towards achieving self-reliance in defence manufacturing. Presently, the value of defence production in FY 2022–23 is up more than 12 percent over FY 2021–22, when the figure was Rs 95,000 crore.

The government is working relentlessly to promote defence production in the country, resulting in a whopping 200 percent increase in the number of defence licences issued to industries in the last 7-8 years. Further, the active participation of MSMEs and startups has also provided a boost to the industry.

Aatmanirbharta in Defence

Achieving Aatmanirbharta in Defence is one of India’s foremost priorities. The government is consistently taking a series of steps in this direction. The latest one is the approval of the 4th Positive Indigenization List (PIL) of 928 strategically important Line Replacement Units (LRUs)/Sub-systems/Spares and Components, including high-end materials & spares, with an import substitution value of Rs 715 crore.

India has made progress in defence production along with promoting greater participation from private players in the sector. Building indigenous defence production capabilities provides a country with greater strategic autonomy.

The announcement of 18 major defence platforms for industry-led design and development in March 2022, the launch of mission defSpace, and the launch of innovations for defence excellence (iDEX), among others, are playing an instrumental role in realising the vision of Aatmanirbharta in Defence

In addition, developing indigenous defence production capabilities creates job opportunities, stimulates industrial growth, and contributes to the overall economy.

 

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