Prime Minister Narendra Modi on Friday lauded the brand new milestone achieved by the defence sector in India, after the Ministry of Defence introduced the highest-ever progress in manufacturing in 2023-24. PM Modi posted on X that the outstanding progress will improve the nation’s safety and make India extra self-reliant.
“Very encouraging growth. Compliments to all those that have contributed to this feat,” PM Narendra Modi posted on X, previously Twitter.
“We’re totally dedicated to nurturing a supportive surroundings to additional improve our capabilities and set up India as a number one world defence manufacturing hub. This may improve our safety equipment and make us Aatmanirbhar!,” he additional mentioned.
This comes shortly after defence minister Rajnath Singh mentioned in an official assertion that India’s annual defence manufacturing has hit a report excessive of roughly ₹1.27 lakh crore in 2023-24, with the Make in India programme crossing new milestones.
“The Ministry of Defence has achieved the highest-ever progress in Indigenous defence manufacturing in worth phrases throughout the monetary 12 months (FY) 2023-24, on the again of profitable implementation of the insurance policies and initiatives of the federal government, led by Prime Minister Narendra Modi, focussing on reaching ‘Aatmanirbharta’,” the defence ministry mentioned in an announcement on Friday.
“As per the information acquired from all Defence Public Sector undertakings (DPSUs), different PSUs manufacturing defence gadgets and personal corporations, the worth of defence manufacturing within the nation has gone as much as a record-high determine, i.e., ₹1,26,887 crore, reflecting a progress of 16.7 per cent over the defence manufacturing of the earlier monetary 12 months,” the assertion mentioned.
Singh additionally lauded the management of PM Narendra Modi for the Make in India efforts.
“Many congratulations to our business together with DPSUs, different PSUs manufacturing defence gadgets and the Personal business. The Authorities is dedicated to making a extra conducive regime for growing India as a number one International Defence Manufacturing Hub,” he added.
The info exhibits that by way of absolute worth, each DPSUs/PSUs and the non-public sector have recorded regular progress in defence manufacturing, the assertion mentioned.
The feat has been achieved on account of coverage reforms and initiatives and ease of doing enterprise introduced in by the federal government during the last 10 years, the ministry mentioned.
(With inputs from PTI)