The Ministry of Defense said on Friday that in the year 2022-23, defense production crossed one lakh crore rupees i.e. Rs 1,06,800 crore. This figure is important because the defense production in the year 2021-22 was more than Rs 95,000 crore but the increase of 12 percent in one year is definitely important because indigenous design, development and manufacturing in the defense sector through MSMEs and startups. The promotion policy has proved successful. The increase of 200 percent in defense licenses given to industries in the last 8 years is itself an indicator that the Defense Ministry estimates that by the financial year 2024-25, defense production will easily reach one lakh 75 thousand crores. .
Also, the government’s export target of Rs 35,000 crore can be achieved. Actually, India imports defense products from America, France, Russia and Israel to meet its fifth generation military needs and is going to reach $ 130 billion in the next five years.
The truth is that earlier there was no attention paid to defense production in India because India was dependent on defense imports. Sometimes the defense exporting countries used to put strict conditions for defense components and ammunition, but now India has brought speed in defense production under Make in India. According to their needs, the big industrial groups of India are already engaged in defense production, the speed of defense production enterprise has also been accelerated by the government. This will increase the economic rate as well as employment opportunities will also be available. The biggest strength is that India will not only become self-sufficient in the defense sector but will also export to earn profit. (sp)
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