‘Will make us atmanirbhar’: PM Narendra Modi on defence production record
Prime Minister Narendra Modi on Friday lauded the new milestone achieved by the defence sector in India, after the Ministry of Defence announced the highest-ever growth in production in 2023-24. PM Modi posted on X that the remarkable growth will enhance the country’s security and make India more self-reliant.
“Very encouraging development. Compliments to all those who have contributed to this feat,” PM Narendra Modi posted on X, formerly Twitter.
“We are fully committed to nurturing a supportive environment to further enhance our capabilities and establish India as a leading global defence manufacturing hub. This will enhance our security apparatus and make us Aatmanirbhar!,” he further said.
This comes shortly after defence minister Rajnath Singh said in an official statement that India’s annual defence production has hit a record high of approximately ₹1.27 lakh crore in 2023-24, with the Make in India programme crossing new milestones.
“The Ministry of Defence has achieved the highest-ever growth in Indigenous defence production in value terms during the financial year (FY) 2023-24, on the back of successful implementation of the policies and initiatives of the government, led by Prime Minister Narendra Modi, focussing on achieving ‘Aatmanirbharta’,” the defence ministry said in a statement on Friday.
“As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure, i.e., ₹1,26,887 crore, reflecting a growth of 16.7 per cent over the defence production of the previous financial year,” the statement said.
Singh also lauded the leadership of PM Narendra Modi for the Make in India efforts.
“Many congratulations to our industry including DPSUs, other PSUs manufacturing defence items and the Private industry. The Government is committed to creating a more conducive regime for developing India as a leading Global Defence Manufacturing Hub,” he added.
The data shows that in terms of absolute value, both DPSUs/PSUs and the private sector have recorded steady growth in defence production, the statement said.
The feat has been achieved due to policy reforms and initiatives and ease of doing business brought in by the government over the last 10 years, the ministry said.