Staff Reporter / New Delhi
India is a major defence export centre as it sells domestically manufactured defence components to around 100 countries; major among them are United States, France and Armenia.
This was stated by Deputy Director General, Defence Investment and Corridor Cell, department of defence production, Ministry of Defence, Akhilesh Kumar Mishra, while delivering a key note address at the one day awareness session on evolving Local to Focal: Focus MSME entrepreneurs organised by the Bharat Chamber of Commerce in Agartala yesterday.
Mr. Mishra said the country has a very robust defence industry base, as there are 16 defence public sector undertaking carrying out domestic productions. He highlighted that the domestic defence production reached 1.27 lakh crores in the fiscal year 2023-2024 adding that 21 percent production came from private domestic industrialists.
He said the Ministry of Defence is targeting to touch 1.75 lakh crore rupees in domestic defence production, this year. Mr Mishra said that Ministry of Defence has declared 2025 as a year of reforms and accordingly, aiming at transforming armed forces in technologically advanced combat ready force.