India’s defence production surges to Rs. 1.27 lakh crore in FY 2023-24, exports cross Rs. 21,000 crore mark

March 25, 2025 10:30 AM

India’s defence production surges to Rs. 1.27 lakh crore in FY 2023-24, exports cross Rs. 21,000 crore mark

India’s defence production hit a record Rs. 1.27 lakh crore in FY 2023-24, marking a 174% rise since 2014-15, driven by the Make in India initiative. Defence exports also saw a significant boost, reaching Rs. 21,083 crore, a 30-fold increase in the last decade, with exports now spanning over 100 countries, according to an official statement from the Ministry of Defence on Monday. This unprecedented growth has been fuelled by strategic initiatives like iDEX and SAMARTHYA, which are propelling ...

India’s defence production poised to clock 20 pc annual growth in FY 2024-29

December 30, 2024 4:59 PM

India’s defence production poised to clock 20 pc annual growth in FY 2024-29

On the back of robust government reforms and increasing private sector participation, India’s defence sector production is set to grow at a compound annual growth rate (CAGR) of around 20 per cent during FY24-FY29, according to a report released on Monday. Indian defence sector companies are set to further enhance the country’s defence capabilities, reduce import dependence, and elevate its global stature, the CareEdge Ratings report stated. The collaboration between government and private...