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Domestic Defense Production 2024
February 12 , 2025
12 hrs 0 min
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- The country’s defence budget, which stood at ₹2,53,346 crore in 2013-14, has seen a significant rise, reaching ₹6,21,940.85 crore in 2024-25.
- In FY 2023-24, India's domestic defence production reached ₹1.27 lakh crore, marking a record high.
- It is an increase of approximately 174% from ₹46,429 crore in 2014-15.
- India is on track to achieve a target of ₹1.75 lakh crore in defence production in the current fiscal year.
- India aims to reach ₹3 lakh crore in defence production by 2029, further establishing itself as a global defence manufacturing hub.
- India's defence exports have surged from ₹1941 crore in FY 2014-15 to ₹21,083 crore in FY 2023-24.
- A 32.5% growth in defence exports was recorded over the previous fiscal year 2022-23, rising from ₹15,920 crore.
- The top three destinations for India's defence exports in 2023-24 were the USA, France, and Armenia.
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