The Minister added that defense exports have grown 31 times in the past ten years compared to FY 2013-14. The growth reflected the global acceptability of Indian defense products and technologies.
The private sector and the DPSUs contributed about 60% and 40%, respectively. India’s interim defense budget for 2024-25 was Rs 6,21,541 crore (approx $75 billion). Rs 1.72 lakh crore (27.67%) was for capital acquisition, 75% of which has to be spent on made-in-India capital purchases.
The ongoing conflict in Europe and West Asia has exposed defense production capacities, surge production capabilities and limitations, and supply chain dynamics. India remains among the top arms importers. Self-sufficiency in arms production has become highly desirable and a must for India if it has to sit on the global high table.
PM Modi-led Indian government had realized early and pushed “Atmanirbharta.” Make-in-India derives the highest returns in defense production as the technologies are not easily shared. India has two nuclear-armed neighbors with both. India has somewhat hostile relations and has fought wars.
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