The inauguration of the TATA Aircraft Complex in Gujarat's Vadodara to manufacture C-295 military transport aircraft marks a key milestone in India’s journey toward Atmanirbharta in defence, as the country reached Rs 1.27 lakh crore in domestic defence production in FY24, the government said on Tuesday.
According to data from all defence public sector undertakings (DPSUs), other public sector units manufacturing defence items, and private companies, the value of defence production has surged to a record high of Rs 1,27,265 crore, representing an impressive increase of approximately 174 per cent from Rs 46,429 crore in FY 2014-15, according to a Ministry of Defence statement.
The defence exports have reached an all-time high, surging from Rs 686 crore in FY 2013-14 to Rs 21,083 crore in FY 2023-24, reflecting a remarkable increase of over 30 times in export value over the past decade.
Notably, defence exports also experienced a substantial growth of 32.5 per cent over the previous fiscal year, rising from Rs 15,920 crore.
India exports to over 100 nations, with the top three destinations for defence exports in 2023-24 being the US, France and Armenia.
According to Defence Minister Rajnath Singh, the target is to further increase defence exports to Rs 50,000 crore by 2029.
“This expanding international footprint underscores India’s commitment to becoming a reliable defence partner globally while bolstering its economic growth through enhanced defence production and exports,” said the ministry.
Historically, India relied heavily on foreign countries for its defence needs, with about 65-70 per cent of defence equipment being imported.
“However, this landscape has dramatically shifted, with around 65 per cent of defence equipment now manufactured within India,” said the ministry.
The country’s defence industrial base comprises 16 DPSUs, over 430 licensed companies, and approximately 16,000 micro, small and medium enterprises (MSMEs). Notably, 21 per cent of this production comes from the private sector, bolstering India's journey toward self-reliance.
The TATA Aircraft Complex has become the first private sector final assembly line (FAL) for military aircraft in India, underscoring the government’s commitment to enhancing indigenous production capabilities.
Under the programme, 56 C-295 aircraft will be delivered, with the initial 16 arriving from Airbus in Spain and the remaining 40 produced domestically.
Sushanta demanded Centre to start direct flight service along Agartala-Mumbai route
The state transport minister Sushanta Chowdhury on Monday met the Union Minister of Civil Aviation Ram Mohan Naidu Kinjarapu in Delhi and discussed a series of issues related to the development of air services from Agartala MBB Airport.
CM Dr Manik Saha discuses development railway services and infrastructure in Tripura
Chief Minister Dr Manik Saha on Monday met the General Manager (Construction) of North East Frontier Railway here in his chamber at the secretariat and discussed a series of issues related to the further development of railway infrastructure in the state and ease passenger movement.
State to get Rs 150 Crore for Tourism, Sushanta Meets Union Minister Shekhawat
The Central Government has sanctioned an additional ₹150 crore for the enhancement of Tripura's tourism sector, Tripura Tourism Minister Sushanta Chowdhury announced on Monday.
CM to inaugurate 34 projects of Rs 250 Crore tomorrow
Chief Minister Prof. Dr. Manik Saha will inaugurate and lay the foundation stones of various projects worth Rs 250 crore, comprising 34 projects, in Unakoti district tomorrow.
JP Nadda, BL Santosh arriving in state on March 9: CM Manik Saha
Chief Minister Prof. Dr. Manik Saha today announced that BJP All India National President JP Nadda and National General Secretary (Org) B.L. Santosh will be arriving on March 9 to attend the two-year celebration of the present state government at Swami Vivekananda Maidan.
Two Bihar women held with cannabis at Agartala Railway Station
Acting on a tip-off, the Government Railway Police recovered 21 kg 65 grams of dried cannabis from two women at Agartala railway station. The estimated market value of the seized contraband is said to be over three lakh rupees.
UK PM announces new 1.6-billion-pound deal for Ukraine to buy missiles
British Prime Minister Keir Starmer announced that Britain will allow Ukraine to use 1.6 billion pounds ($2 billion) of British export finance to purchase more than 5,000 air defence missiles.
'PM Modi working for welfare of all communities without discrimination', says Hazrat Nizamuddin Dargah Committee chief
Hazrat Nizamuddin Aulia Dargah Committee Chairman Syed Afsar Ali Nizami on Sunday praised Prime Minister Narendra Modi for attending the Sufi music festival 'Jahan-e-Khusro' and said that he gave the message of brotherhood and works for the welfare of all communities and religion without any discrimination.