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October 30, 2024 9:31 PM

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Defence production has soared to ₹1.27 lakh crore in 2023-24: PM Modi

Prime Minister Narendra Modi has said that the inauguration of the C-295 aircraft manufacturing complex in Vadodara is a watershed moment for India’s defence and aerospace journey. Sharing his article on the social media platform LinkedIn, Mr Modi said the speed of execution is breathtaking—from foundation stone to operational facility in just two years. He said This is a clear manifestation of the new work culture and the capabilities of the people of India.

 

The Prime Minister also listed several accomplishments in the defence sector. He said, Defence production has soared to 1.27 lakh crore rupees in 2023-24. Defence exports have skyrocketed from one thousand crore rupees in 2014 to 21 thousand crore rupees today. Mr. Modi said more than 12 thousand 300 items have been indigenised in just three years. Over seven thousand 500 crore rupees were invested in domestic vendors by defence public sector undertakings. He said 25 percent of the defence research and development budget is dedicated to industry-led innovation.

 

The Prime Minister said the complete defence ecosystem is being transformed. He said Indigenous warships patrolling the waters, Made-in-India missiles strengthening the deterrence, and domestically produced bulletproof jackets protecting the soldiers. Mr Modi said India is becoming Aatmanirbhar in defence and is also working to be a top-of-the-line defence equipment manufacturer.

 

Mr. Modi said two modern defence corridors were established in Uttar Pradesh and Tamil Nadu. The Prime Minister said Innovations for Defence Excellence iDEX is powering an entire StartUp eco-system, MSMEs becoming integral to the defence supply chain, and industry-academia partnerships fostering research and development. Mr. Modi said import dependency has been reduced, there is job creation across the defence manufacturing sector, youth are being skilled, and MSMEs are getting a boost in the defence sector.

 

He said, From a time when Indian forces faced critical equipment shortages to today’s era of self-reliance, this is a journey that every Indian can be proud of. Mr. Modi said India’s defence sector is calling the youth, startups, manufacturers, and innovators, as this is their moment to be part of history. He said India needs their expertise and enthusiasm. The Prime Minister said the doors are open for innovation, the policies are supportive, and the opportunity is unprecedented. He said, together, all will make India not just Aatmanirbhar in defence but a global leader in defence manufacturing.

 

Mr. Modi and his Spanish counterpart Pedro Sanchez jointly inaugurated the TATA Aircraft Complex for manufacturing C-295 aircraft at the TATA Advanced Systems Limited TASL Campus in Vadodara, Gujarat, on Monday.