India Achieves Record Rs 1.3 Lakh Crore in Domestic Defence Production | Defence Dynamics

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India's Defence Minister has announced that the country has achieved its highest-ever annual domestic defence production in 2023-24, valued at Rs 1.3 lakh crore, marking a 16.7% growth over the previous fiscal year. This milestone, part of India's 'Make in India' program under PM Modi, underscores the government's commitment to making India a leading global defence manufacturing hub. The majority of production, 79%, came from defence public sector undertakings (PSUs) and other PSUs, with the private sector contributing 21%. The success is attributed to policy reforms and initiatives aimed at self-reliance, with a notable increase in defence exports, reaching Rs 21,083 crore, a 32.5% growth. Additionally, the Indo-Russian Rifles Private Limited joint venture announced the delivery of 35,000 AK-203 assault rifles to the Indian Army, emphasizing technology transfer and full localization in line with the Make in India and Atmanirbhar Bharat Abhiyaan programs
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