Defense News , India :- In a groundbreaking achievement, India defense production has surpassed the ₹1 lakh crore mark, marking a remarkable tenfold surge since the 2016-17 fiscal year.
As per the Ministry of Defence, exports have soared to an unprecedented level of approximately ₹16,000 crore in the fiscal year 2022-23.
This represents an impressive increase of nearly ₹3,000 crore compared to the previous fiscal year, demonstrating a phenomenal growth of over 10 times since the fiscal year 2016-17.
This significant milestone underscores India robust growth in the defense sector, establishing it as a major global player with exports reaching over 85 countries and active participation from 100 companies.
A pivotal moment unfolded during the "Swavlamban 2.0" session, where Defence Minister Rajnath Singh revealed the fifth positive indigenization list, spotlighting 98 items designated for local sourcing.
In a noteworthy development, a record 75 per cent, around ₹1 lakh crore of the defense capital procurement budget, was allocated for the domestic industry in FY 2023-24, up from 68 per cent in FY 2022-23.
The 14th Aero India event witnessed the grand inauguration of the HAL Helicopter Factory in Tumakuru, Karnataka, by Prime Minister Narendra Modi. This state-of-the-art facility, celebrated as India largest helicopter manufacturing plant, is poised to roll out light utility helicopters.
In a significant stride, the Indian Air Force welcomed the first twin-seater light combat aircraft "TEJAS," with HAL securing a noteworthy order for 83 light combat aircraft.
The Defence Acquisition Council further approved proposals exceeding ₹3.50 lakh crore in 2023, emphasizing a focus on enhancing operational readiness.
Simultaneously, the Border Roads Organisation made a substantial contribution by dedicating 118 infrastructure projects to the nation.
Adding a progressive touch, the Regiment of Artillery actively embraced gender inclusion by commissioning 10 female officers in 2023.
This collective progress showcases India decade-long growth trajectory in the defense sector, setting the stage for continued advancements and a resilient defense industry.
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