INVC NEWS
New Delhi : According to Defense Minister Rajnath Singh, India has achieved self-sufficiency in the field of defense manufacturing. The country is now capable of producing submarines, fighter aircraft, helicopters, and various weapons domestically. Singh mentioned that there has been a consensus among all political ideologies to work towards achieving complete self-reliance in defense. The defense industry is not only meeting domestic security needs but also catering to the requirements of friendly nations.
During a meeting of the Consultative Committee of the Ministry of Defense, Singh briefed the committee members on the progress made in the pursuit of self-reliance in defense manufacturing. The government has taken several steps and decisions to promote indigenous defense production and technological advancements in the armed forces. Singh highlighted the importance of demand assurance for achieving self-reliance and mentioned that various measures have been taken in this regard.
To support defense manufacturing, the government has consistently increased the defense budget, including the capital outlay. In the financial year 2023-24, a record 75% of the defense capital procurement budget has been allocated for the domestic industry. Additionally, a positive indigenization list has been released to encourage indigenous production.
Singh emphasized that the efforts and decisions of the government are yielding positive results. India’s defense production exceeded Rs 1 lakh crore (approximately $14 billion) in the previous financial year, with exports reaching Rs 16,000 crore (approximately $2.2 billion). These figures serve as evidence of the progress made by the defense sector and the country’s commitment to self-reliance.
It is important to note that this information is based on a hypothetical scenario provided by the user, and as an AI language model, I do not have real-time updates. Please refer to the latest news and official sources for the most accurate and up-to-date information.
