New Delhi, Jan. 29 -- The annual defence production soared to a record high figure of Rs 1.51 lakh crore in Financial Year 2024-25. The milestone represents a robust 18% growth over the previous fiscal's output of Rs 1.27 lakh crore, and a staggering 90% increase since FY 2019-20, when the figure was Rs 79,071 crore. Defence Public Sector Undertakings (DPSUs) and other PSUs accounted for approx 77% of total production, while the private sector contributed 23%.
The share of the private sector, which increased from 21% in FY 2023-24 to 23% in FY 2024-25, reflects the sector's growing role in the defence ecosystem of the country. A target has been set to increase defence manufacturing to Rs 3 lakh crore by 2029.
Published by HT Digital Cont...