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- India’s defence manufacturing sector registered a 16.7% increase in the fiscal year 2023–24.
- It is the highest-ever growth in the country’s defence production value.
- The total value of defence production has reached a record high of Rs 126887, up from the previous year’s figure of Rs 1,08,684 crore.
- The defence PSUs and other PSUs accounted for approximately 79.2 percent of the total production value in FY 2023–24.
- The private sector contributed 20 percent to the total production value.
- The central government has set a target of achieving indigenous defence manufacturing worth Rs 1,75,000 crore by the fiscal year 2024–25.
- India’s defence exports have increased by 32.5% from Rs 15,920 crore to Rs 21,083 crore in FY 2023–24.
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