New Delhi: India’s annual defence production has hit a record high in 2023-24. The total defence production stood at Rs 1.27 lakh crore in 2023-24. The value of defence production in FY 2022-23 was Rs 1,08,684 crore.
‘As per the data received from all Defence Public Sector undertakings (DPSUs), other PSUs manufacturing defence items and private companies, the value of defence production in the country has gone up to a record-high figure, i.e., Rs 1,26,887 crore, reflecting a growth of 16.7 per cent over the defence production of the previous financial year,’ defence ministry said in a statement.
Also Read: Know how to your WhatsApp display picture from unknown callers
The defence ministry said that of ‘the total value of production (VoP) in 2023-24, about 79.2 per cent has been contributed by DPSUs/other PSUs and 20.8 per cent by the private sector. Defence exports touched a record-high of Rs 21,083 crore in FY 2023-24, reflecting a growth of 32.5 per cent over the last fiscal when the figure was Rs 15,920 crore.
In the last five years (since 2019-20), the value of defence production has been increasing steadily, and grown by over 60 per cent.
Post Your Comments