India witnesses record defence exports and defence production in 2023

In FY2022-23, defence production in India crossed ₹1 lakh crore for the first time. This figure stood at around ₹95,000 crore in FY2021–22.
India witnesses record defence exports and defence production in 2023

New Delhi: India witnessed record defence exports and all-time high defence production in 2023 in the efforts to achieve ‘Aatmanirbharta’ in defence and the Armed Forces. Strengthening border infrastructure, utilising Nari Shakti and ensuring ex-servicemen's welfare were at the forefront of the ministry of defence’s focus in 2023.

In FY2022-23, defence production in India crossed ₹1 lakh crore for the first time. This figure stood at around ₹95,000 crore in FY2021–22.

The central government is working with defence industries to promote defence production in India, as a number of policy reforms have been taken by the government in order to achieve ease of doing business (EODB) and integration of MSMEs and startups.

The defence exports crossed the all-time high of nearly ₹16,000 crore in FY2022-23, around ₹3,000 crore more than the last fiscal as India exported to more than 85 countries, according to a press release by the defence ministry.

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