Indian Defence System: India’s Defence Production Reaches The Highest, Surpasses Rs 1 Lakh Cr

Defence Export News: Defense Minister Rajnatha Singh announced via an X (formerly Twitter) post that the country’s defense production reached Rs 1.27 lakh Cr, the highest it has ever reached. Additionally, India is exporting defense equipment to more than 90 countries. In 2023-24, the country’s defense export production reached Rs 21,000 Cr and now the government has set the goal of reaching more than Rs 50,000 Cr in the next 5 years. 

India’s Defence Export and Import

By 2029, India will spend about 130 billion US dollars on defense equipment and weapons. This is an important step in the direction of the country’s self-reliance in the defense sector. Increasing production and export will not only reduce the cost of buying weapons from India, but will also help to add more revenue to the government’s earnings. There is also a rapid increase in the impact of export and production on the stocks. If we look at the data of the past few years, companies like Hindustan Aeronautics, Bharat Electronics, and Bharat Dynamics have given a great return.